AT&T and Verizon Wireless Complete Spectrum Transfer Deal

AT&T completed its previously announced acquisition of wireless spectrum in the lower 700 MHz band B block from Verizon Wireless.  Under the deal, which was first announced in January,  AT&T paid $1.9 billion in cash and transferred Advanced Wireless Services (AWS) spectrum licenses in Phoenix, Ariz.; Los Angeles and Fresno, Calif.; Albuquerque, N.M.; and Portland, Ore.

The acquired licenses 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.

AT&T’s 4G LTE network currently covers more than 225 million people, with plans to reach nearly 270 million people by the end of 2013, and to substantially complete the build by summer 2014. AT&T’s plans to deploy 4G LTE include the areas covered by this spectrum.

http://www.att.com

http://news.verizonwireless.com/news/2013/09/att-spectrum-sale-completion.html