Verizon Wireless completes $1.9 billion spectrum sale to AT&T

AT&T vs Verizon 4G LTE showdown

Spectrum is a a valuable resource for carriers so it’s not surprising that it continues to change hands as carrier’s build out and improve their 4G network. The latest spectrum news involves AT&T and Verizon, which just closed a deal worth $1.9 billion.

The deal was signed on the dotted line back in January 2013 and was finally given all necessary federal approval in the past few weeks. As part of the deal, AT&T paid Verizon $1.9 billion for 39 licenses in the 700MHz B block, a chunk of spectrum that Verizon was not using. AT&T will use this resource for its 4G LTE network. The spectrum blankets 42 million people in 18 states, including Colorado, California, Idaho, Florida, Illinois, Louisiana, Montana, New Mexico, New York, Ohio, Oklahoma, South Dakota, Tennessee, Texas, Utah, Virginia, Washington, and Wyoming.

In addition to cash, Verizon will also receive some AWS spectrum from AT&T. The AWS spectrum covers Los Angeles and Fresno, California, Phoenix, Arizona and Portland, Oregon. Like AT&T, Verizon will use this spectrum to bolster the capacity of its 4G LTE network in those areas.

[Via Verizon Wireless]

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