AT&T Buys $1.9B Worth Of Verizon Spectrum

Law360, New York (September 10, 2013, 8:50 PM EDT) -- AT&T Inc. has acquired wireless spectrum in the lower 700 MHz band from Verizon Wireless Inc. for $1.9 billion in an effort to expand the reach of its 4G LTE platform, AT&T announced Tuesday.

In addition to the cash deal, AT&T also transferred Advanced Wireless Services spectrum licenses in Phoenix, Ariz., Los Angeles and Fresno, Calif., Albuquerque, N.M., and Portland, Ore., in exchange for the wireless spectrum.

The spectrum covers about 42 million customers in 18 states and will support AT&T's continued implementation of its 4G...
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