AT&T to Acquire 700 MHz Spectrum from Verizon for $1.9 Billion

in News, AT&T, Verizon Wireless, LTE
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AT&T 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. Subject to regulatory approval, AT&T anticipates closing the transaction in the second half of 2013.

According to the operator, the 700 MHz licenses, to be acquired by AT&T, will 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. 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.

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