• Most Popular
  • Most Shared

US FCC meeting delayed; Verizon, Sprint deals mulled

Tue Nov 4, 2008 2:50pm EST

Stocks

   

WASHINGTON, Nov 4 (Reuters) - A U.S. Federal Communications Commission meeting on Tuesday was delayed as the five commissioners sought to finalize conditions for Verizon Wireless's acquisition of Alltel Corp.

Stocks  |  Regulatory News  |  Global Markets  |  Media

The FCC meeting was scheduled to begin at 1100 ET (1600 GMT) but had not yet begun at 1430 ET (1930 GMT).

FCC Chairman Kevin Martin told reporters that the other four commissioners were likely discussing what roaming conditions to put on the Verizon deal.

The agency was scheduled to vote on Verizon Wireless's $28 billion acquisition of Alltel, a rural wireless provider, and on Sprint Nextel Corp.'s (S.N) $14.5 billion deal with Clearwire (CLWR.O), a wireless Internet service provider.

Martin has proposed requiring Verizon and Altell to keep existing roaming agreements for two years. Both deals are expected to be approved, but with FCC-imposed conditions.

Verizon Wireless is owned jointly by Verizon Communications Inc (VZ.N) and Britain's Vodafone Group Plc (VOD.L).

The FCC is also scheduled to vote on a plan to open soon-to-be-vacant television airwaves for unlicensed use by wireless devices. Microsoft Corp (MSFT.O) and Google Inc (GOOG.O) have been lobbying hard for that proposal to be approved, with the promise it will lead to a new generation of wireless devices and services. (Reporting by Kim Dixon; Editing by Steve Orlofsky)



More from Reuters

Joint Terminal Attack Controller SSgt Clinton J. Herbison, a U.S. Airman from the 817 Expeditionary Air Support Operations Squadron (EASOS) takes a break during a night mission near Honaker Miracle camp at the Pesh valley of Kunar Province August 12, 2009. Credit: REUTERS/Carlos Barria

Pictures of the Year

A look at the best photos of 2009.  Slideshow 

    The Dalai Lama jokes with a nasal spray after being asked his opinion on the swine flu during a press conference after his first lecture in Lausanne, Switzerland, August 4, 2009. REUTERS/ Valentin Flauraud

    What a wacky year it's been...

    Um, what's up the Dalai Lama's nose? "Oddly Enough" editor Bob Basler rounds up the goofiest photos of the year.  Full Article 

    A caution sign is seen next to a stock board at the Australian Securities Exchange (ASX) in Sydney September 5, 2008. REUTERS/Daniel Munoz
    Political Risk in 2010:

    Don't say we didn't warn you

    With the financial crisis (mostly) in the past, U.S. investors are eying a fresh start to the coming year. Here's a look at what speedbumps lie ahead.  Full Article