Verizon sells spectrum to AT&T for $1.9 billion

Jan 25, 2013 by Peter Svensson

Verizon Wireless says it's selling space on the airwaves to AT&T in exchange for $1.9 billion and the transfer of some airwave rights from AT&T.

The sale of rights will let AT&T Inc. expand its capacity for wireless broadband in areas that include Chicago, Los Angeles, Miami, Oklahoma City and Cincinnati. In return, it's getting other frequencies in Los Angeles, Fresno, Calif., Phoenix and Portland, Ore.

Verizon is also selling North Carolina spectrum licenses covering Charlotte, Greensboro and Raleigh to Grain Management, a private-equity firm, for $189 million.

The deals are part of a year-long spectrum reshuffling process for Verizon and AT&T. AT&T is on the hunt for more spectrum, while has been optimizing its holdings to make them easier to use with wireless service.

Explore further: AT&T goes on spectrum shopping binge

not rated yet
add to favorites email to friend print save as pdf

Related Stories

Verizon to auction spectrum worth billions

Apr 18, 2012

Verizon Wireless on Wednesday said it will auction a parcel of radio frequencies, which could be worth billions of dollars in an industry scrambling to offer consumers more cellular broadband.

Cox agrees to sell wireless spectrum to Verizon

Dec 16, 2011

(AP) -- Cable company Cox Communications on Friday said that it has agreed to sell some of its airwave licenses to Verizon Wireless for $315 million and will resell Verizon service in its stores.

AT&T goes on spectrum shopping binge

Aug 02, 2012

(AP) — AT&T Inc. has gone on a shopping spree for wireless spectrum, striking three separate deals that should let it increase its capacity for wireless broadband.

Verizon pays $3.6 bn to buy spectrum from cable firms

Dec 04, 2011

US cellphone giant Verizon Wireless said Friday it will pay $3.6 billion to buy wireless spectrum from three leading cable providers which are bowing out of plans to plunge into the cellphone business.

FCC accepting objections to Verizon's planned spectrum buy

Jan 26, 2012

Those opposed to Verizon Wireless' deal to purchase wireless spectrum from Comcast Corp., Time Warner Cable, and Bright House Networks for $3.6 billion must file objections with the Federal Communications Commission by Feb. ...

US curbs Verizon's wireless entertainment push

Aug 16, 2012

The US Justice Department announced tough limits Thursday on Verizon's effort to expand its wireless entertainment footprint, amid worries the cellphone and cable giant was building a monopoly.

Recommended for you

Google eyes emerging markets networks

3 hours ago

Google has become deeply involved in a series of projects to build and operate wireless networks in emerging markets including sub-Saharan Africa and Southeast Asia, a report said Friday.

Internet cable from Cuba to Jamaica comes online

May 21, 2013

A new branch of the Venezuela-to-Cuba undersea fiber-optic cable has reportedly come online, linking the island to nearby Jamaica, increasing Cuba's potential international communications bandwidth and providing a backup ...

Carlos Slim company to buy US mobile phone firm

May 20, 2013

Mexican phone giant America Movil, owned by billionaire Carlos Slim, announced Monday that its US unit reached a deal to acquire US mobile phone company Start Wireless Group.

User comments : 0

More news stories

Google eyes emerging markets networks

Google has become deeply involved in a series of projects to build and operate wireless networks in emerging markets including sub-Saharan Africa and Southeast Asia, a report said Friday.

Facial-recognition technology proves its mettle

(Phys.org) —In a study that evaluated some of the latest in automatic facial recognition technology, researchers at Michigan State University were able to quickly identify one of the Boston Marathon bombing ...

Drones may violate international law

(Phys.org) —As President Obama gives a speech on national security—including defending U.S. use of drones to combat terrorism—Leila Sadat, JD, international law expert and professor of law at Washington University in ...

Galaxies fed by funnels of fuel

(Phys.org) —Computer simulations of galaxies growing over billions of years have revealed a likely scenario for how they feed: a cosmic version of swirly straws.