A system and method for arbitrating channel access in a wireless device including co-located network transceivers are disclosed herein. A wireless device includes a first wireless transceiver and a second wireless transceiver. The first transceiver is configured for operation with a first wireless network. The second transceiver is configured for operation with a second wireless network. The wireless device further includes logic that determines which of the first and second transceivers is enabled to transmit at a given time. The logic causes the first transceiver to transmit a notification signal indicating a time period during which the second transceiver of the wireless device will perform a first wireless transaction, and during which, based on receiving the notification signal, a different wireless device performs a second wireless transaction via the second wireless network without transmitting a notification signal.