Does Spectrum Own Verizon?
When shopping for an internet provider, it is often important to look into their background. For example, who they partner with, what towers and satellites they use, and which cables are approved. This will tell you a lot about the service you will get and if it is reliable. Through this due diligence, consumers often stop and wonder, does Spectrum own Verizon?
Spectrum does not own Verizon. Spectrum and Verizon are partnered to offer better services by sharing each company’s lines and satellites. This ensures that each company has a wider reach to their customers and allows the value of the service they supply to improve.
There are a lot of rumors when it comes to Spectrum and Verizon. To understand the rumors, it is important to look at recent news articles to get real information behind the two tech giants. Keep reading to learn how Spectrum and Verizon really work together and what this partnership provides to their consumers.
A Tight Partnership
Spectrum and Verizon are partners, and it is very important to emphasize this. Both companies are owned by different parent companies and are not currently owned by the same parent company. The fact of the matter is that Spectrum partners with Verizon to expand its network coverage for its consumers.
Spectrum, on its own, does not have a vast network of LTE capabilities. Since this is the newest and most reliable technology, they have taken active steps to improve this shortcoming. As of May 2021, they now have access to Verizon’s towers and satellites.
This allows their customers to use Verizon’s LTE service to its consumers all around the United States.
Spectrum was very concerned about this vast improvement. Without this partnership, the company wouldn’t be unable to update quickly enough to keep up with current technologies, which could have resulted in the loss of consumers and eventual bankruptcy.
Verizon Buys Spectrum for $3.6 Billion
A common misconception that people hear about Spectrum is that Verizon bought it for $3.6 billion. In reality, this is only partially true. It is worth mentioning that Verizon actually purchased 122 Spectrum mobile carrier licenses from Spectrum at this price. This purchase was part of Verizon’s plan to expand its own mobile wireless carrier network.
The deal was struck, and Verizon is now the owner of these licenses. This is one of the biggest reasons why both companies partner together. They share towers, satellites, and other technologies to provide better services to their consumers. Verizon and Spectrum have been known to strike deals with other similar companies for this exact same reason.
What This Partnership Means
Spectrum does not technically own its own mobile wireless network. It relies solely on Verizon’s vast network and telecommunications to provide its customers with the mobile service they want at some of the best prices. This is great news for Spectrum, as it is used as a marketing strategy to acquire new customers.
Verizon has the largest network of all mobile providers in the US. Many companies recognize this and create partnerships with them to provide the same amount and value of service. While this does not mean that each company owns one another, it does mean they share rights to the same tangible property and resources.
Other Owners of Spectrum Licenses
If you are concerned about how Spectrum sells licenses to other companies like Verizon, don’t be. This is an extremely common practice that will not go away any time soon. In fact, many other major telecommunication companies have taken the reigns and have begun to buy out licenses from Spectrum. Here are some of the companies and the licenses they bought.
|Company||Amount of Spectrum Licenses Bought|
|Verizon||3,511 Spectrum Licenses|
|T-Mobile||142 Spectrum Licenses|
|AT&T||1,621 Spectrum Licenses|
As you can see, many major telecommunication companies have bought licenses from Spectrum. They also buy licenses from each other and from smaller telecommunication companies to round out their portfolio of availability. This practice costs each company billions of dollars but reaps the rewards with customer retention and acquisition.
Spectrum Has Quality Service
Due to these deals; Spectrum has great service for its mobile customers. It provides them with fast LTE speeds at affordable prices. It does not cap data like many other consumer cellular plans and does not require a contract to join. These are all positives as the price of everything in the world steadily inflates.
Enjoy The Service
Acquiring a reliable mobile service provider is a great way to stay connected with friends, family, and coworkers. It is also a good way to stream shows, keep up with social media, and get the biggest news stories. Whether one company owns the other really isn’t important in the grand scheme of things. Reliable and affordable service is the most important aspect of any plan.