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MarketScreener Homepage  >  Equities  >  Nyse  >  Verizon Communications    VZ

VERIZON COMMUNICATIONS

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Verizon Communications : White House to Retool Pentagon Airwaves for 5G Networks

08/10/2020 | 03:59pm EST

By Drew FitzGerald

The Trump Administration outlined a plan Monday to commercialize a swath of military radio frequencies for use in next-generation 5G networks, yielding to cellphone carriers that have sought the spectrum for their own use.

The White House plan would arrange for the Federal Communications Commission to auction 100 megahertz of prized mid-band spectrum starting in December 2021, allowing telecom companies such as AT&T Inc. and Verizon Communications to bid on licenses for them. The industry has long sought the rights for more mid-band spectrum, which is considered ideal for new fifth-generation wireless signals because of its extensive bandwidth and reach.

"Under this administration's approach, the American private sector will continue to build the next 5G networks," White House technology adviser Michael Kratsios said during a telephone briefing with reporters.

The framework, if adopted, would strike a rare compromise among the Pentagon, FCC and other U.S. agencies that have sometimes squabbled over federal 5G policies. Department of Defense officials have been leery of past efforts to commercialize their reserved spectrum. The mid-band spectrum at issue is used for naval radar systems, missile control and air traffic, among other uses.

Recent technological advances have made it possible for telecom companies to send data over frequencies reserved for the military when it is not otherwise in use. A senior administration official said an ongoing auction of nearby spectrum called the Citizens Broadband Radio Service showed that the frequencies, which are widely used outside the U.S., are in strong demand.

FCC Chairman Ajit Pai commended the decision in a statement as "a key milestone in securing United States leadership in 5G."

"The FCC looks forward to moving quickly to adopt service rules for the 3.45 GHz band and then hold an auction to bring this prime mid-band spectrum to market," he said, referring to the spectrum band.

 

Stocks mentioned in the article
ChangeLast1st jan.
AT&T INC. 0.42% 28.87 Delayed Quote.-26.43%
VERIZON COMMUNICATIONS 0.28% 60.58 Delayed Quote.-1.34%
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Financials (USD)
Sales 2020 128 B - -
Net income 2020 17 995 M - -
Net Debt 2020 104 B - -
P/E ratio 2020 14,0x
Yield 2020 4,10%
Capitalization 251 B 251 B -
EV / Sales 2020 2,76x
EV / Sales 2021 2,68x
Nbr of Employees 133 200
Free-Float 96,4%
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Mean consensus OUTPERFORM
Number of Analysts 28
Average target price 62,46 $
Last Close Price 60,58 $
Spread / Highest target 15,5%
Spread / Average Target 3,11%
Spread / Lowest Target -10,9%
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Managers
NameTitle
Hans Erik Vestberg Chairman & Chief Executive Officer
Matthew D. Ellis Chief Financial Officer & Executive Vice President
Kyle J. Malady Chief Technology Officer & Executive VP
Clarence Otis Lead Independent Director
Melanie Liddle Healey Independent Director
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