Verizon signs deals with Crown Castle and SBA Communications
Agreements will speed deployment of 5G Ultra Wideband on C-band spectrum
NEW YORK, April 12, 2021 (GLOBE NEWSWIRE) -- Verizon inked deals with Crown Castle and SBA, two tower companies already hosting Verizon infrastructure equipment, to speed deployment of equipment in preparation for the launch of 5G Ultra Wideband and fixed wireless broadband service on this newly acquired spectrum.
Verizon secured an average of 161 MHz of C-band spectrum nationwide in the recent FCC auction, which will allow Verizon to offer increased mobility and broadband services to millions more consumers and businesses. C-band provides a valuable middle ground between capacity and coverage for 5G networks, and will enable greater speeds and coverage for both mobility, home broadband and business internet solutions. Deploying 5G Ultra Wideband on this spectrum requires new network equipment including basebands and antennas to be placed on existing towers. The deals signed with both Crown Castle and SBA Communications provide for process improvements including standardizing and reducing forms and minimizing legal reviews, allowing Verizon engineering teams to expedite deployment of C-band equipment. Both agreements establish terms for leasing space on existing towers for C-band equipment.
“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.”
“We are excited about the opportunity to support Verizon’s 5G Ultra Wideband and 5G Nationwide deployment with our extensive wireless infrastructure offering,” stated Jay Brown, Crown Castle’s Chief Executive Officer. “Our long-standing partnership with Verizon dates back more than two decades, and we look forward to continuing to support Verizon’s growth with this agreement that is designed to deliver significant value for both parties over the next 10 years. We believe our ability to offer a comprehensive solution at scale provides us the best opportunity to deliver value as we support their wireless infrastructure needs.”
”We are pleased to expand our existing strong partnership with Verizon, as we play an active role in supporting their efforts to deliver 5G service across the country,” said Jeff Stoops, SBA Communications’ President and Chief Executive Officer. “We believe the scale and quality of our assets and our positive working relationship will enhance Verizon’s ability to efficiently meet their network objectives, while benefiting SBA Communications through multiple years of extended use of our assets and leasing revenue growth.”
Verizon Communications Inc. (NYSE, Nasdaq: VZ) was formed on June 30, 2000 and is 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 $128.3 billion in 2020. The company offers data, video and voice services and solutions on its award-winning networks and platforms, delivering on customers’ demand for mobility, reliable network connectivity, security and control.
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