Verizon to use new spectrum for advanced wireless

By Peter Kaplan

WASHINGTON (Reuters) - Verizon Wireless said on Friday it would use the airwaves it won in a government auction last month for its next generation of high-speed wireless services, expected to debut around 2010.

In a telephone conference with analysts, the company said the $9.36 billion (4.7 billion pounds) worth of new 700 megahertz spectrum would give Verizon Wireless, the No. 2 U.S. mobile service, enough resources to build a faster wireless data network.

"We now have sufficient spectrum to continue growing our business and data revenues well into -- and possibly through -- the next decade," said Verizon Wireless CEO Lowell McAdam.

McAdam said the spectrum would be used for a network Verizon Wireless plans to build based on an emerging technology known as Long Term Evolution, which it expects to boost revenue by connecting "everything and anything together."

Verizon Wireless, a venture of Verizon Communications Inc (VZ.N) and Vodafone Group (VOD.L), will use the airwaves to connect a broad array of devices, such as digital media players, gaming consoles and even home appliances, McAdam said.

Verizon Wireless and AT&T Inc (T.N) won the lion's share of the spectrum up for grabs in the $19.12 billion auction, with AT&T spending another $6.64 billion.

Verizon Wireless won the largest single block of nationwide airwaves offered in the Federal Communications Commission auction, paying $4.74 billion for the portion of spectrum known as the "C" block.

Commenting on the 700-megahertz spectrum for the first time since the landmark auction ended on March 18, Verizon said it expects to launch its next generation wireless network "in the 2010 time frame."