AT&T announced today that it completed its acquisition of wireless spectrum in the lower 700 MHz band B block from Verizon Wireless.
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.
The spectrum will support AT&T?s deployment of 4G LTE to meet demand for mobile Internet services. AT&T claims that its 4G LTE network currently covers more than 225 million people, with plans to reach nearly 270 million people by the end of 2013, and to substantially complete the build by summer 2014. AT&T?s plans to deploy 4G LTE include the areas covered by this spectrum.
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.