UPDATE: Friday, February 15 - Verizon Wireless and Colorado Valley Communications completed this spectrum purchase on January 16, 2013.
Colorado Valley Communications, based in La Grange, Texas, has signed an agreement with Verizon Wireless to acquire a portion of the BEA131 Houston-Galveston-Brazoria 700 MHz lower A-block license. The partitioned license covers a population of 126,000 in Fayette, Austin, Colorado, Lavaca and Washington Counties.
This agreement is the fourth to be signed as a result of Verizon Wireless’ previously announced plans to offer for sale 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.
Since 2011, Verizon Wireless has sold or has agreed to sell 36 of its lower 700 MHz spectrum licenses, as well as this partitioned license, to 11 different telecommunications companies, including the four 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.
Stephens Inc., an independent financial services firm, and Loop Capital Markets LLC, a minority-owned full service investment bank, managed the offering process.