AT&T Acquires 700 MHz Spectrum from Verizon

Posted January 25, 2013 at 6:07pm by iClarified | Please help us and submit a translation by clicking here | 5188 views

AT&T announced in an 8-K filing today that it has agreed to acquire spectrum in the 700 MHz B band from Verizon Wireless for $1.9 billion in cash and Advanced Wireless Services (AWS) spectrum licenses in several markets, including Phoenix, Ariz., Los Angeles and Fresno, Calif. and Portland, Ore.

The 700 MHz licenses to be acquired by AT&T cover 42 million people in 18 states — California, Colorado, Florida, Idaho, Illinois, Louisiana, Montana, New Mexico, New York, Ohio, Oklahoma, South Dakota, Tennessee, Texas, Utah, Virginia, Washington and Wyoming.

This acquisition complements AT&T’s existing holdings in the 700 MHz B band and will allow AT&T to continue to quickly deploy 4G LTE services to meet demand for mobile Internet services on a wide array of smartphones, tablets and other devices. The company announced in November 2012 that it plans to reach 300 million people in the U.S. with its 4G LTE network by the end of 2014.

AT&T also announced that it will sell to Grain Management a single AWS license and will lease 700 MHz spectrum from Grain Management in three markets. The transaction is subject to regulatory approval but the company anticipates closing the transaction in the second half of 2013.


Share
Add Comment
veriztt - January 25, 2013 at 11:23pm
I swear ATT and Verizon are the same company.
Angel - January 25, 2013 at 10:26pm
Question. Spectrum. Doesn't belong to people. Why are they selling it
budsal - January 26, 2013 at 8:47pm
The ground under my house belongs to me. The "spectrum" above your head belongs to corporations. The air is still free, though we can only guess for how much longer that will be the case.
Follow iClarified
PanguTeam Issues Update on iOS 8 Jailbreak
The PanguTeam has issued an update on the sta...
Apple Submits Refined Plans for Phase 2 of Apple Campus 2 Construction
Apple has submitted refined plans for Phase 2...
Apple is Reportedly Rebuilding Beats Music to Relaunch It Next Year as Part of iTunes
Ralph Nader Slams Tim Cook for Buying Back Stock Instead of Helping Impoverished Workers
AT&T is Locking Down the New Apple SIM After It's Activated on Their Network