Verizon expands, buys SureWest Communications for $69 million
Verizon looks like it’s on the fast-track to taking over US telecommunications, and adds more than 50 communication towers courtesy of a sale from SureWest Communications. They are also reportedly getting all the spectrum licenses, and network and operations assets in the greater Sacramento area previously owned by SureWest, all out of the $69 million USD sale.
The spectrum licenses acquired by Verizon will add a population of nearly 3.8 million people from areas that most of their networks already serve. This of course further expands their overall network area, as well as the company’s overall capacity.
Also because of this sale, SureWest Wireless’ approximately 50,000 customers will be transitioned to the to the Verizon Wireless network by late summer, after the two companies complete a billing system conversion between themselves.
This is good news if you’re currently under the SureWest Wireless network, which will reportedly use $30 million of the net cash proceeds from the sale to repay a certain amount of its current outstanding debt while the balance should be used to expand its broadband network.