updated 04:50 pm EST, Tue January 8, 2013
Ongoing Verizon sale part of April 2012 spectrum deal
Chicago, IL based US Cellular has agreed to purchase Verizon Wireless' 700MHz A-block license blanketing Oklahoma City and 31 adjacent counties. The sale continues Verizon's process announced last spring to divest itself of its lower 700Mhz spectrum licenses. The transaction shifts providers for approximately 1.9 million people.
Verizon agreed in April 2012 to sell some of its spectrum if it was cleared to proceed with a deal to puchase spectrum from Comcast, Cox, Leap, and Time Warner Cable to improve its LTE coverage. The deal covered sections of the 700mhz spectrum in Austin, Los Angeles, Miami, New York City, Philadelphia, and San Francisco, as well as spectrum offered to boost 4G LTE implementation in rural areas.
The transaction is subject to Federal Communications Commission (FCC) approval before allocation. No terms of the deal have been announced.