Verizon Communications (NYSE:
) is close to being approved by the Federal Communications
Commission ('FCC') to buy airwaves from cable companies.
, Verizon still has to convince the Justice Department that the
potential deal will not lead to higher prices for consumers before
approval is granted.
The hearing comes after Verizon Wireless
last December to buy spectrum from cable providers Comcast (NASDAQ:
) and Time Warner Cable (NYSE:
) for roughly $3.9 billion.
The deal is causing controversy, as mobile service providers are
scrambling around for more spectrum to meet customer demand for
large data services such as video streaming.
With the hearing ongoing, Verizon announced that it would be
delaying the launch of the Samsung Galaxy S III by two days.
According to the
, the delay is only affecting the in-store launch, with pre-orders
already shipped and - in some cases - in the hands of the
Meanwhile, Verizon Wireless announced that the Blackberry Curve
will go on sale Thursday for $49.99 after rebate with a two-year
service plan, starting with online sales.
Verizon Communications has been busy, but it remains to be seen
whether the cable deal goes through - and whether or not this
proves to be a successful week for the company.
Shares of Verizon Communications were trading at $44.79 at the
time of posting, up 0.11 percent from Monday's market close.
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