FCC plan for mid-band auction is a major step in boosting U.S. leadership in 5G

Date : 02/06/2020 @ 7:12PM
Source : GlobeNewswire Inc.
Stock : Verizon Communications Inc (VZ)
Quote : 54.7  0.0 (0.00%) @ 1:00AM
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FCC plan for mid-band auction is a major step in boosting U.S. leadership in 5G

Verizon Communications (NYSE:VZ)
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FCC Chairman Ajit Pai earlier today announced a bold plan to hold an auction for 280 Megahertz of "C-band" spectrum before the end of the year. The following may be attributed to Hans Vestberg, Chairman and Chief Executive Officer, Verizon:

"Today is a monumental day in our nation’s efforts to maintain wireless leadership in 5G. Chairman Pai’s historic announcement sets forth a bold vision for bringing much needed mid-band spectrum to auction this year. Most importantly, his plan ensures that this critical spectrum is not only auctioned quickly, but cleared on an accelerated basis. This speedy transition will undoubtedly ensure that the US will preserve its global leadership in 5G and will produce hundreds of billions of dollars in economic benefits for the country."

Verizon Communications Inc. (NYSE, Nasdaq: VZ) was formed on June 30, 2000 and is celebrating its 20th year as one of the world’s leading providers of technology, communications, information and entertainment products and services. Headquartered in New York City and with a presence around the world, Verizon generated revenues of $131.9 billion in 2019.  The company offers voice, data and video services and solutions on its award winning networks and platforms, delivering on customers’ demand for mobility, reliable network connectivity, security and control. 

VERIZON’S ONLINE MEDIA CENTER: News releases, stories, media contacts and other resources are available at www.verizon.com/about/news/. News releases are also available through an RSS feed. To subscribe, visit www.verizon.com/about/rss-feeds/.

Media contact:Rich Young908.559.3477richard.j.young@verizon.com

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