AT&T to purchase $1.9 billion of 700MHz spectrum from Verizon

AT&T to purchase $1.9 billion of 700MHz spectrum from Verizon
To get the spectrum it needs to continue building out its 4G LTE pipeline AT&T plans on paying rival mobile operator Verizon $1.9 billion for  licenses covering spectrum in the 700MHz B band in 18 states. The spectrum to be purchased covers 42 million people living in California, Colorado, Florida, Idaho, Illinois, Louisiana, Montana, New Mexico, New York, Ohio, Oklahoma, South Dakota, Tennessee, Texas, Utah, Virginia, Washington and Wyoming.

Together with 700MHz B band spectrum already owned by AT&T, the carrier hopes to finish building out its 4G LTE service. The nation's second largest carrier has a goal in place to blanket 300 million people with its 4G LTE service by the end of 2014. As part of the transaction with Verizon, AT&T will sell a single AWS license to Grain Management while leasing 700MHz spectrum from them in three markets.

The entire deal requires regulatory approval, which means someone in the U.S. government is getting a nice lunch. The deal is expected to close in the second half of this year.

source: AT&T via Engadget 

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13 Comments

1. drnggaj33

Posts: 127; Member since: Feb 29, 2012

big ass drug deal there lol

11. Nadr1212

Posts: 741; Member since: Sep 22, 2012

Wait, 700MHz B bands are 4g (lte)? If that's true, then I did not know that!

14. win181

Posts: 1; Member since: Jan 28, 2013

heck yes

2. Slammer

Posts: 1515; Member since: Jun 03, 2010

The Cartel continues........ John B.

3. Jeradiah3

Posts: 1149; Member since: Feb 11, 2010

im surprised that Verizon is making a deal with its biggest competitor!! As long as I have a good AT&T signal from coast to coast, i dont care lol

4. Slammer

Posts: 1515; Member since: Jun 03, 2010

Verizon and AT&T were the children seperated at birth. Since then, they have helped each other grow while searching for each other. With the third largest carrier being a distant third, the two "Competitors", have much to gain by working, as I call; a cartel. A Duopoly is worse than a Monopoly because it can keep regulators out of the nest. This Government of ours, has to be more engaged with consumers rather than coddling the wireless industry. John B.

6. Gcombs

Posts: 136; Member since: Aug 22, 2011

Well said Slammer!!!

5. Jyakotu

Posts: 867; Member since: Dec 12, 2008

At least AT&T is doing everything in its power to build out its network. There are plenty of prepaid and MVNO carriers if customers don't want to sign a contract with one of the Big 4 national carriers.

7. JohnnyBravo

Posts: 105; Member since: Dec 02, 2012

I have a HUGE problem with this...how about helping out smaller carriers bulk up??? This will further distance ATT and Verizon from the pack!! This is no good for the consumer. Im surprise Dan Hesse hasnt cried FOUL PLAY here!!! Im begining to think there is something going on between these two...

10. user312

Posts: 68; Member since: Aug 21, 2012

If there is something going on the worst-case senario is that in the future they combine

12. Gcombs

Posts: 136; Member since: Aug 22, 2011

Combining and once again becoming Bell Communications. That's far fetched but kinda scary. LOL

8. MartianMe unregistered

Google please hurry up and save us from these two evils :(

9. MartianMe unregistered

...... i meant devils

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