Regulators Clear Verizon Wireless Purchase of NextWave Licenses

The FCC has approved Verizon Wireless $3 billion agreement to acquire licenses in 23 markets from NextWave Telecom Inc., according to national media reports.

Verizon Wireless, the second largest U.S. wireless carrier, is acquiring licenses in such big cities as Boston, Los Angeles, New York and Washington, D.C., as well as smaller markets, including Portland, Ore. and Provo, Utah.

The decision becomes final in 40 days, Bloomberg reported.

The licenses cover a population of 73 million people. Verizon Wireless said it would use the licenses to expand its network capacity in 22 existing markets and expand its footprint into Tulsa, Okla.

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