View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
  2. Data Centre
January 28, 2013

AT&T to acquire wireless spectrum from Verizon for $1.9bn

The transaction is expected to finish by mid 2013.

By CBR Staff Writer

AT&T has agreed to acquire Verizon Wireless’ 39 lower 700 MHz B block licenses for $1.9bn.

The service currently covers 42 million people in 18 US states.

As part of the deal, AT&T said it will also give Verizon licenses to 10 MHz Advanced Wireless Services spectrums in Los Angeles, Phoenix, Fresno and Portland.

Verizon has also agreed to sell lower 700 MHz B block licenses covering the Charlotte, Greensboro and Raleigh-Durham areas in North Carolina, to the US-based private-equity firm Grain Management for $189m.

The transactions are subject to approval by the US Federal Communications Commission (FCC) and the Department of Justice.

Verizon has agreed to sell 35 of its 77 lower B block licenses to 10 different entities which include transactions that were initiated prior to the sale process.

Verizon said the latest deals will complete the lower 700 MHz sale process.

Content from our partners
Unlocking growth through hybrid cloud: 5 key takeaways
How businesses can safeguard themselves on the cyber frontline
How hackers’ tactics are evolving in an increasingly complex landscape

Last year, the US Federal Communications Commission (FCC) approved Verizon Wireless’ agreements worth $3.9bn in order to purchase wireless spectrum owned by Comcast, Time Warner Cable, Bright House Networks and Cox Communications.

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.
THANK YOU