BEDMINSTER, NJ and DENVER, CO — Verizon Wireless and Qwest Communications International Inc. today announced they have completed the transaction, previously announced in July 2004, for Verizon Wireless to purchase Qwest Wireless' spectrum licenses and certain network assets for $418 million. These licenses will increase Verizon Wireless' capacity in key existing markets as well as expand the company's network into new markets.
The agreement includes spectrum licenses in 62 markets in 14 western and mid-western states, covering a population of 30.8 million people. These licenses, all in the 1900 MHz PCS frequency range, average nearly 10 MHz per market. The transaction also includes Qwest Wireless' network switching centers, cell sites and related network equipment, which operate on the CDMA standard, the same as the Verizon Wireless network.
Fifty-four of the licenses are in markets where Verizon Wireless already operates its network, and will be used to expand capacity to meet growing demand for voice and data services. These markets include the major cities of Phoenix, Albuquerque, Tucson, Salt Lake City, Minneapolis-St. Paul, Denver, Portland (Ore.), Seattle, and Omaha. (See complete list of markets below.)
The spectrum licenses also include several new markets for Verizon Wireless, and will expand the company's license coverage to an additional 1.5 million people. These new markets include: Rochester, Minn.; Lincoln, Neb.; and Longview, Wash. The transaction does not include any subscribers.
About Verizon WirelessVerizon Wireless owns and operates the nation's most reliable wireless network, serving 43.8 million voice and data customers. Headquartered in Bedminster, NJ, Verizon Wireless is a joint venture of Verizon Communications (NYSE:VZ) and Vodafone (NYSE and LSE: VOD). Find more information on the Web at www.verizonwireless.com. To receive broadcast-quality video footage and high-resolution stills of Verizon Wireless operations, log on to the Verizon Wireless Multimedia Library at www.verizonwireless.com/multimedia.
Verizon Wireless has purchased from Qwest spectrum licenses and network assets in the following 62 markets:
Southwest Phoenix, Ariz.Tucson, Ariz.Prescott, Ariz.Flagstaff, Ariz.Albuquerque, N.M.Santa Fe, N.M.Nogales, Ariz.
West Rockies Salt Lake City-Ogden, Utah Provo-Orem, Utah Boise-Nampa, Idaho Idaho Falls, Idaho Twin Falls, Idaho Pocatello, Idaho Lewiston-Moscow, Idaho Billings, Mont. Bozeman, Mont.Great Falls, Mont.Helena, Mont. Missoula, Mont. Butte, Mont.
East RockiesDenver, Colo.Colorado Springs, Colo.Fort Collins-Loveland, Colo.Grand Junction, Colo.Greeley, Colo.Pueblo, Colo. Casper-Gillette, Wyo. Cheyenne, Wyo. Riverton, Wyo.
MidwestOmaha, Neb. Lincoln, Neb. * Fergus Falls-Alexandria, Minn. *Rochester-Austin, Minn. *Minneapolis-St. Paul, Minn. Willmar-Marshall, Minn. * St. Cloud, Minn. **Sioux City, Iowa Fargo, N.D. Bismarck, N.D. Rapid City, S.D. Scottsbluff, Neb. * Grand Island-Kearney, Neb. *
OregonPortland, Ore. Eugene-Springfield, Ore.Salem-Albany-Corvallis, Ore. Bend, Ore. Klamath Falls, Ore. Medford-Grants Pass, Ore. Roseburg, Ore. Walla Walla, WA-Pendelton, Ore. Coos Bay-North Bend, Ore. *
WashingtonBellingham, Wash. Seattle-Tacoma, Wash. Olympia-Centralia, Wash. Longview, Wash. * Spokane, Wash. Bremerton, Wash. Wenatchee, Wash. Port Angeles, Wash.Kennewick, Wash.Aberdeen, Wash.Yakima, Wash.
* New Markets for Verizon Wireless
** On March 1, 2005, Verizon Wireless completed the purchase of Cellular 2000 of St. Cloud from its owner, St. Cloud Wireless Holdings LLC and began offering service in that market.####