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AT&T to Buy Spectrum From Verizon for $1.9 Billion
Posted: 25-Jan-2013 [Source: Bloomberg]

[AT&T signs another spectrum deal, this time with Verizon. The deal must still be approved by the FCC and the Justice Department.]

Scott Moritz -- "AT&T Inc., the second-biggest U.S. wireless carrier, agreed to acquire airwaves from larger rival Verizon Wireless for $1.9 billion, helping bolster its network in a region that covers 42 million people.

The 700-megahertz spectrum spans 18 states, including California, Texas, New York and Florida, AT&T said today in a regulatory filing. The deal is expected to be completed in the second half of 2013.

The Dallas-based company will use the airwaves to build out its next-generation network, which relies on a technology called long-term evolution, or LTE. AT&T plans to reach 300 million people in the U.S. with its LTE network by the end of 2014."

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