Verizon Sells $1.9 Billion Worth of Spectrum to AT&T

Money makes the world go around. This is why Verizon has agreed to sell unused spectrum to their rival AT&T for the hefty price of $1.9 billion. AT&T is acquiring 39 700MHz licenses which will offer better service to 42 million customers across 18 states, according to the company.

Verizon is gaining more than just money, as they’ll be nabbing AWS spectrum in five western markets. Both carriers have had to rethink their 4G plans as more and more LTE smartphones become available. The AWS spectrum can complement Verizon’s existing 700MHz holdings.

This purchase was announced way back in January and was part of a deal that Verizon struck with cable providers, a deal that required Verizon to sell off some of its spectrum to a competitor. Now Verizon and AT&T customers get better service and all is right with the world – for now.

via The Verge

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