Verizon spent $1.9 billion to catch up on 5G spectrum

Verizon is spending nearly $1.9 billion to catch up on 5G spectrum, as the biggest carriers race to roll out higher-speed connections nationwide. This morning, the Federal Communications Commission revealed the winners of an auction for licenses to valuable spectrum that’s especially useful for 5G. Verizon was the biggest spender by far. Dish came in second, spending $912 million. Charter, Comcast, and Cox all spent hundreds of millions on spectrum as well.

Companies spent big on this auction because the spectrum, in the 3.5GHz band, can be used for higher-speed 5G deployments. Verizon, in particular, has been in a tough spot: its 5G strategy so far has largely relied on millimeter-wave deployments. Those offer the highest-speed...

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