AT&T to Expand Network for $2.5bil

AT&T announced today that it will be purchasing spectrum licenses from Aloha Partners LP at a cost of $2.5 billion dollars. The spectrum licenses cover 196 million people in the 700 Mhz frequency band.

"Customer demand for mobile services, including voice, data and video, is continually increasing," said Forrest Miller, group president-corporate strategy and development. "Aloha's spectrum will enable AT&T to efficiently meet this growing demand and help our customers stay connected to their worlds."

The deal will improve AT&T's spectrum position by adding 12Mhz of spectrum coverage. It will cover 196 million people in 281 markets. The top 10 markets in the US are covered as are 72 of the top 100 markets.