Sullivan & Cromwell Reps AT&T In $1.9B Qualcomm Deal

Law360, New York (December 20, 2010, 4:03 PM EST) -- AT&T Inc. has agreed to pay $1.93 billion for spectrum licenses from Qualcomm Inc. in order to boost its ability to deploy fourth-generation wireless service, the companies said Monday.

The spectrum licenses in the 700 megahertz frequency are currently used for Qualcomm's struggling subsidiary FLO TV Inc., which sends videos to mobile phones and other portable devices. Qualcomm said Monday it expected to shutter FLO TV in March.

AT&T said it intended to integrate the licenses into its longer-term 4G network plans, employing carrier aggregation technology...
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