Wireless service provider Clear Talk has inked an agreement with Verizon Wireless to acquire lower 700 MHz B-block licenses covering five markets in Texas as well as markets in Maryland, Georgia, Florida, Nevada and New Mexico. The 10 markets have a population of 2.1 million. The purchase is subject to FCC approval, according to Verizon Wireless News Center writer Robin Nicol.
Nicol wrote that the agreement with Clear Talk is the third to be signed in as many weeks as a result of Verizon Wireless’ previously announced sale process for its lower 700 MHz spectrum licenses. Independent telephone company Nortex Communications in Muenster, Texas and broadband solutions company Panhandle Telecommunications Systems in Guymon, Oklahoma were the first two companies to sign agreements, said Verizon Wireless.
According to Verizon Wireless, the company decided last spring to explore the sale of its lower 700 MHz spectrum licenses to rationalize its spectrum holdings and enable more spectrum to reach the marketplace where it can be used for the benefit of customers. Concurrently, Verizon Wireless is also evaluating bids for its other lower 700 MHz licenses which cover numerous major cities and dozens of smaller markets across the country, wrote Nicol.
Since 2011, Verizon Wireless has sold or has agreed to sell 36 of its lower 700 MHz spectrum licenses to 10 different telecommunications companies, including the three agreements announced recently. In addition, through its LTE in Rural America program, Verizon Wireless is leasing upper 700 MHz C-block spectrum to 20 rural operators to jumpstart the delivery of 4G LTE in rural areas.
Per Verizon’s release, the licensing deal was managed by Stephens Inc., an independent financial services firm, and Loop Capital Markets LLC, a minority-owned full service investment bank.
Edited by Rich Steeves