Yesterday,
AT&T announced that they have completed the acquisition of Verizon
Wireless’ spectrum in the lower 700 MHz band B block. The
acquired licenses cover 42 million people in 18 states — California, Colorado,
Florida, Idaho, Illinois, Louisiana, Montana, New Mexico, New York, Ohio,
Oklahoma, South Dakota, Tennessee, Texas, Utah, Virginia, Washington and
Wyoming.
By acquiring this spectrum AT&T will be
able to deploy their ever growing 4G LTE network to meet the demand for mobile
Internet services. AT&T’s 4G LTE network currently covers more than 225
million people. They hope to reach 270 million people by the end of this year
and finish the build by the summer of 2014.
In exchange for the 700 MHz spectrum, AT&T
paid $1.9 billion in cash and transferred Advanced Wireless Services (AWS)
spectrum licenses in Phoenix, Ariz.; Los Angeles and Fresno, Calif.;
Albuquerque, N.M.; and Portland, Ore.
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