ATandT, Qualcomm Spectrum Licensing Deal Approved by FCC
The company is purchasing 700 MHz spectrum licenses covering more than 300 million people for approximately $1.9 billion.Network operator AT&T announced that it has received all required regulatory approvals for AT&T's acquisition of spectrum from Qualcomm, a bit of positive news for the carrier after the implosion of its proposed acquisition of T-Mobile USA. The company is purchasing 700 MHz spectrum licenses covering more than 300 million people for approximately $1.9 billion. The companies expect to close the transaction in the coming days, AT&T said in a release.
"This spectrum will help AT&T continue to deliver a world-class mobile broadband experience to our customers," said Bob Quinn, senior vice president of AT&T's federal regulatory division. "We appreciate the FCC Chairman, the Commissioners and their staff for completing its review before the holidays. As spectrum is the lifeblood of the U.S. wireless industry, we are pleased that the FCC did not reduce the spectrum screen, however, we continue to believe any changes to the process by which it is allocated should be subject to open and transparent public discussion and clear to everyone with an interest in ensuring the health of our industry."
AT&T is under pressure from rivals when it comes to broadening spectrum, including Verizon Wireless, which just last week inked a deal with Cox Communications to sell to Verizon Wireless its 20 MHz Advanced Wireless Services (AWS) spectrum licenses covering 28 million POPs for $315 million. The agreement does not include Cox's 700 MHz spectrum licenses, the company's Cox Wireless customer accounts or any other assets.