|
COPYRIGHT 2002 Crain Communications, Inc.
Fresh off the government's decision to release all participants from the financial responsibility related to the ill-fated auction of NextWave Telecom Inc.'s wireless spectrum, Verizon Wireless Inc. purchased 50 wireless licenses from Long Island, N.Y.-based Northcoast Communications L.L.C.
The $750 million cash deal, which is expected to close during the second quarter of 2003, includes 10 megahertz personal communications services licenses covering more than 47 million potential customers in the Midwest and East in a number of top 20 U.S. markets including New York, Boston and Minneapolis. In addition, Verizon Wireless said it acquired more than 300 cell site locations in the deal.
"Radio spectrum is the lifeblood of our industry, said Denny Strigl, president and chief executive officer of Verizon Wireless. "With...
Read the full article for free courtesy of your local library.
|
Bookmark this article
Print this article
Link to this article
Email this article
Digg It!
Add to del.icio.us
RSS
