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Verizon Leads 5G Airwave Bidding With Record $45 Billion Splurge

Feb. 24, 2021, 9:22 PM

Verizon Communications Inc. committed $45 billion for 5G wireless airwaves in a government auction that attracted record bidding as the largest U.S. mobile carriers race to build faster networks.

At $23 billion, AT&T Inc. was the second-highest bidder, according to the Federal Communications Commission, which ran the auction. Participants also included T-Mobile US Inc. and pay-TV providers such as Dish Network Corp., Comcast Corp. and Charter Communications Inc. Some have already tapped the debt market to help pay the tab. The auction started in December, and within days the tally exceeded analysts’ estimates of $47 billion before settling...

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