Leap gets $120 million in Verizon spectrum deal, putting it towards LTE
Last week, we heard that the FCC had finally approved spectrum swaps and deals for Verizon, which bought AWS spectrum from cable companies and Leap Wireless, and sent some of that spectrum to T-Mobile. Now, we're getting more of the story from Leap Wireless' perspective.
According to Leap Wireless, Verizon will be paying $120 million for AWS and PCS spectrum across the country, and will also be giving Leap 12 MHz of 700 MHz A block spectrum in Chicago. Obviously, Leap has said that the spectrum in Chicago will be put to use soon to strengthen coverage for users there. And, as for the cash, Leap will be investing that in building out its LTE network.
Doug Hutcheson, Leap's president and chief executive officer, said, "We expect to offer LTE services to at least two-thirds of our current network footprint over the next two to three years."