Verizon Communications Inc

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SES To Earn Additional $170 Million From Verizon Agreement

Published: 03/21/2022 09:43 GMT
Verizon Communications Inc (VZ) - Ses Will Earn an Additional $170 Million From Verizon Through Accelerated Clearing.
Announced an Agreement With Verizon Communications to Expand Us-based Mobile Carrier's Access to a Portion of C-band.completed Its Phase I Accelerated C-band Clearing Ahead First Fcc Deadline of 5 December 2021.
To Meet Phase Ii Deadline of 5 December 2023, Ses is Working to Relocate Its Existing Services From 3700-4000 Mhz Band and Complete Equipment Changes for Incumbent Earth Stations Across Entire Contiguous United States, Earning an Additional $3 Billion in Accelerated Relocation Payments in Process.
Incur Additional Costs to Perform This Clearing.
Previously Communicated Estimate of $80 Million of Non-reimbursable Costs Across Entire C-band Clearing Project is Now Being Increased to $100 Million to Reflect Magnitude of Agreement With Verizon.