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As Google and Verizon fight it out over the terms of the forthcoming 700MHz spectrum auction, AT&T has put up some big money to get their piece. AT&T has announced today that its board of directors has approved an agreement to purchase spectrum licenses covering 196 million people in the 700 MHz frequency band from Aloha Partners, L.P., a Delaware limited partnership.
“Customer demand for mobile services, including voice, data and video, is continually increasing,” said Forrest Miller, group president-corporate strategy and development. “Aloha’s spectrum will enable AT&T to efficiently meet this growing demand and help our customers stay connected to their worlds.”
The transaction enhances AT&T’s spectrum position by adding 12 MHz of spectrum covering 196 million people in 281 markets. The spectrum covers many major metropolitan areas, including 72 of the top 100 and all of the top 10 markets in the United States.
AT&T will pay approximately $2.5 billion in cash for the licenses. The company anticipates receiving necessary government approvals and closing the transaction within six to nine months.
Want to know more about the 700 MHz Spectrum? See the excellent posts on GigaOm 700 MHz Explained in 10 Steps and Inside the 700 MHz spectrum land grab
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| Tags: Mobile, Wireless
[…] Check it out! While looking through the blogosphere we stumbled on an interesting post today.Here’s a quick excerpt AT&T Buys 700MHz Spectrum Licenses for $2.5 Billion By Stephen Antonucci [ ATT] … frequency band from Aloha Partners, L.P., a Delaware limited partnership. “Customer demand for mobile … six to nine months. Mobile, Google Post a Comment Email Post Email Post Print Post […]
[…] pays $2.5 billion for wireless spectrum licenses …Blogged about at AT&T Buys 700MHz Spectrum Licenses for $2.5 Billion - reelsmart.com, SAN ANTONIO (AP) — AT&T Inc. agreed to pay $2.5 billion for spectrum licenses that will […]