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News Release FOR IMMEDIATE RELEASE March 10 , 2021 Media contact : Kim Ancin Kimberly.Ancin@verizon.com 908-801-0500 Karen Schulz Karen.Schulz@Verizon.com 864-561-1527 Verizon announces C - Band auction results Download Verizon's Investor Day 2021 infographic . NEW YORK , NY - Verizon will soon be able to offer increased mobility and broadband services to millions more consumers and businesses as a result of the recent FCC C - Band auction . In an investor event tonight , the company's executive team discussed the acceleration of its strategy and plans to use the strong spectrum position in the industry to continue to drive growth . C - Band auction results Verizon succeeded in more than doubling its existing mid - band spectrum holdings by adding an average of 161 MHz of C - Band nationwide for $ 52.9 billion including incentive payments and clearing costs . Verizon won between 140 and 200 megahertz of C - Band spectrum in every available market . Specifically , Verizon : Secured a minimum 140 megahertz of total spectrum in the contiguous United States and an average of 161 megahertz nationwide ; that's bandwidth in every available market , 406 markets in all . Secured a consistent 60 megahertz of early clearing spectrum in the initial 46 markets - this is the swath of spectrum targeted for clearing by the end of 2021 , home to more than half of the U.S. population . Secured up to 200 megahertz in 158 mostly rural markets covering nearly 40 million people . This will further enhance Verizon's broadband solution portfolio for rural America . The auction results represent a 120 percent increase in Verizon's spectrum holdings in sub - 6 gigahertz bands . The quality of this spectrum and Verizon's depth of licensed holdings represent the premier asset in the industry . In addition , C - Band is a widely used spectrum band throughout the world and will allow for roaming opportunities and economies of scale . The spectrum bands Verizon won are contiguous , which will streamline deployment of this spectrum across the mainland United States . Accelerate Verizon's 5G mobility network In the next 12 months , Verizon expects to have incremental 5G bandwidth via the new spectrum available to 100 million people in the initial 46 markets , delivering 5G Ultra Wideband performance on C - Band spectrum . Over 2022 and 2023 , coverage is expected to increase to more than 175 million people and by 2024 and beyond , when the remaining C - Band is cleared , more than 250 million people are expected to have access to Verizon's 5G Ultra Wideband service on C - Band spectrum .