Verizon Wireless, Cable Partners Object to Sharing Details with Sprint, DirecTV
Verizon Wireless (NYSE:VZ) and its cable partners say they will give U.S. communication regulators confidential details of their agreement, but balked when Sprint Nextel (NYSE:S), DirecTV (NASDAQ:DTV) , T-Mobile USA and others asked for information, Reuters reports.
Verizon Wireless announced plans to purchase nearly $4 million worth of wireless spectrum from cable companies, including Comcast (NASDAQ:CMCSA) and Time Warner Cable (NYSE:TWC), as part of a broader deal that include cable operator resale of wireless service and a partnership.
Spectrum sales require approval from the Federal Communications Commission. The broader nature of the arrangement has prompted competitors and consumer advocacy groups to request more information about the other parts of the agreement.
Verizon Wireless (NYSE:VZ) and its partners have said that in order to help with the review process they will confidentially give the FCC details about the commercial agreement, however they do not believe it is an obligation.