Verizon spent $45.45 billion on C-Band airwaves in the recent FCC auction
To make the most of the billions of dollars’ worth of C-Band spectrum that it acquired recently, Verizon has signed deals with Crown Castle and SBA Communications to accelerate the deployment of C-Band equipment.
Because deploying 5G Ultra Wideband — the name under which Verizon is marketing both its mmWave and its future C-Band-based 5G — on C-Band spectrum requires new network equipment to be placed on existing towers, Verizon needed to ink additional deals with the tower companies, both of which already host Verizon infrastructure equipment. The new deals, which establish terms for leasing space on existing towers for C-band equipment, include improvements to processing, such as the reduction of forms and the minimization of legal reviews, to allow Verizon to more quickly deploy equipment.
Jay Brown, Crown Castle’s CEO, expressed excitement about the opportunity to support Verizon’s 5G deployment, adding that the agreement that is “designed to deliver significant value for both parties over the next 10 years.”
Verizon noted that it acquired an average of 161 MHz of C-Band spectrum nationwide, which it will use to launch additional mobile 5G and fixed wireless broadband services to “millions more consumers and businesses.”
“The addition of C-band spectrum to our already robust spectrum portfolio means we will be able to provide the differentiated service of 5G Ultra Wideband mobility service to an additional 250 million customers and, for the first time, 50 million additional customers will have choice in their internet provider as we bring 5G Home to more places,” said Heidi Hemmer, senior vice president of engineering at Verizon. “These new agreements with our tower companies allow us to work very efficiently to pre-position all needed equipment on existing towers on our best-in-class network.”
In a previous conversation with RCR Wireless News, Hemmer said the carrier expects to reach that 250 million customer mark sometime in 2024, and CEO Hans Vestberg told investors that an additional $10 billion will be pumped into deploying C Band over the next two years, on top of Verizon’s existing capex plans.