Verizon Wireless CEO Defends Cable Deal

The CEO of Verizon Wireless defended the company's bid to buy spectrum from a group of cable operators, saying his firm has proven to be good steward of the public airwaves.

"We're confident the regulators will understand this purchase is good for Verizon Wireless customers and good for the entire broadband economy," Verizon Wireless President and CEO Dan Mead said during remarks at the wireless industry group CTIA's annual show in New Orleans. Mead pushed back against claims that it is "warehousing" spectrum. He noted Verizon has offered to sell two licenses it holds to spectrum it is not currently using if the Federal Communications Commission approves its deal with the cable companies. Verizon has said the A and B licenses it is offering to sell cover dozens of major cities and rural areas including Chicago, Los Angeles, New York and Washington, DC. "Our decision to sell the A and B licenses clearly shows we're not interested in warehousing spectrum," said Mead. "No one is forcing us to sell that spectrum. We're selling it because it's the right thing to do for our company and also the right thing to do for our industry."