AT&T to acquire wireless spectrum from Verizon Wireless for $1.9B

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AT&T announced today that it is acquiring spectrum from rival Verizon Wireless in a deal worth $1.9 billion.

AT&T is buying a swath of spectrum in the 700-MHz B block that covers 39 markets in 18 states including California, Texas, New York and Florida. Verizon is not using this spectrum and offered to make it available as part of its spectrum deal with cable providers.

In return for selling this parcel to AT&T,  Verizon will get AWS spectrum from AT&T in Western cities such as Los Angeles, California, Phoenix, Arizona and Portland, Oregon.

[Via CNET and AT&T]

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