AT&T Buys $1.9 Billion in Wireless Spectrum from Verizon

AT&TIn a move to further boost its 4G LTE deployment in the US, AT&T has acquired a batch of 700 MHz B band spectrum from its major rival Verizon in a $1.9 billion cash deal. AT&T says that the 700 MHz licenses will cover more than 42 million people across 18 US states, which include California, Colorado, Florida, Idaho, Illinois, Louisiana, Montana, New Mexico, New York, Ohio, Oklahoma, South Dakota, Tennessee, Texas, Utah, Virginia, Washington and Wyoming. The operator will also receive Advanced Wireless Services (AWS) spectrum licenses in five of those markets. According to AT&T, its spectrum purchase will “complement [its] existing holdings in the 700 MHz B band and will allow AT&T to continue to deploy 4G LTE services to meet demand for mobile Internet services on a wide array of smartphones, tablets and other devices.” Read the full story at The Next Web.