On Thursday, the Federal Communications Commission (FCC) put its seal of approval – though with some conditions - on the Verizon spectrum deal, which will allow the carrier to purchase a chunk of unused wireless spectrum from cable companies Comcast, Time Warner Cable, and Bright House Networks.

Under the terms of the Verizon spectrum deal, the carrier will buy spectrum in the Advanced Wireless Services band from the cable companies; and will also sell some of its leftover spectrum to rivals T-Mobile and Leap Wireless, as per an agreement signed in June this year.

However, in its final approval of the spectrum deal, the FCC has also imposed restrictions onto a connected agreement, which will give Verizon and the cable companies the opportunity to resell one another’s services.

In addition, the FCC has demanded that Verizon should use the acquired spectrum to meet the goal of offering advanced wireless services to at least 30 percent of populated areas covered by the frequency space in the next three-year period; and to at least 70 percent of the residents of the areas within seven years. Furthermore, the FCC also requires Verizon to offer data roaming to its rivals at fair prices.

In its approval of the Verizon spectrum deal, the FCC said: "If commenters' concerns are accurate that Verizon Wireless does not need the spectrum it is acquiring, at least in the near term, and the result is that Verizon Wireless does not in fact put the spectrum to use, [Verizon's] asserted benefits would be undermined.”