AT&T, VZW swap spectrum
December 23 2008 - 1:42 pm ET | Gary E. Salazar |
The Federal Communications Commission and the Department of Justice have approved wireless asset swaps between AT&T Mobility and Verizon Wireless.
AT&T Inc. announced today that the divestiture requirements related to AT&T Mobility’s acquisition of Dobson Communications Corp. is now complete. AT&T Mobility purchased Dobson at the end of 2007 for $2.8 billion. Dobson had 1.6 million subscribers at the time of the purchase.
According to the agreement, AT&T Mobility has acquired from Verizon some former Rural Cellular Corp. properties that include licenses and network assets. The trade also includes subscribers in the Burlington, Vt., service area and in rural areas in New York, Vermont and Washington. AT&T Mobility was also given a cellular license in portions of Kentucky.
In return, Verizon acquired some former Dobson properties that include licenses, network assets and subscribers in Kentucky. Verizon also acquired 10 megahertz of PCS spectrum in a number of areas and additional cash considerations from AT&T Mobility.
With the swap, AT&T said it improves its wireless coverage and services in New York, Vermont, Washington and Kentucky. The agreement was signed by both companies Dec. 3 and received regulatory approval by the federal agencies last week.
As part of the deal to buy Dobson, AT&T Mobility also agreed to sell the Cellular One brand as part of the regulatory requirements.
