Verizon Buys SureWest Assets in Sacramento

Verizon Wireless and SureWest Communications announced they have signed a definitive agreement for Verizon Wireless to purchase SureWest Communications’ wireless assets in northern California, operating as SureWest Wireless, for $69.0 million.

The purchase includes SureWest Wireless’ spectrum licenses, and network and operations assets in the greater Sacramento area. The licenses, which cover a population of 3.8 million people and overlap with areas currently served by Verizon Wireless, will expand the company’s capacity in that area. Verizon Wireless plans to begin serving SureWest Wireless’ more than 50,000 customers when the deal is finalized.

The transaction is expected to close in the second quarter of 2008 and is subject to federal regulatory approvals.