Verizon gains FCC approval for spectrum purchase to improve LTE network

Verizon has gained FCC approval to purchase $3.6 billion of spectrum from a group of cable companies known as Spectrum Co. The Justice Department approved the deal last week, so the FCC signing-on gives clearance to complete the sale of frequency licenses from Bright House Networks, Comcast, Cox, and Time Warner Cable. Verizon now has 45 days to finalize the spectrum sale, and the carrier must still meet the conditions set by the FCC, including accelerating its network build-out and roaming agreements with other carriers. CEO Dan Mead said Verizon will "work aggressively" to meet those requirements.