Verizon Wireless’ plan to acquire $3.6 billion worth of spectrum from SpectrumCo — a joint venture of Comcast, Time Warner Cable and Bright House Networks — has raised eyebrows at the antitrust division of the U.S. Justice Department. The deal, which involves the purchase of 122 spectrum licenses, is supposed to be used by the nation’s largest mobile carrier to build out a 4G LTE network, according to our sister site BGR. But a Justice spokeswoman said today the acquisition is under investigation for whether it puts too much spectrum in the hands of one company, impacting competition in the wireless and cable sectors; Verizon made a similar deal last week to buy Cox Communications’ spectrum. “This agreement is diminishing competition in every way,” Mark Cooper, director of research at Consumer Federation of America, told Bloomberg. “It means the cable companies are no longer trying to do their own thing in wireless, it concentrates ownership of spectrum and it turns rivals such as Verizon and Comcast into partners.” Verizon said it had not received any information about the probe.
Justice Department Probing Verizon Spectrum Deals
What's Hot on Deadline
Bill O'Reilly To Matt Lauer On His Firing From Fox News & Sexual Harassment Claims: "This Was A Hit Job"