Verizon announced on Friday that it has sold spectrum in the 700 MHz band to AT&T, while AT&T sold spectrum in the AWS band to Verizon. The deal is part of the cell phone industry's eternal efforts to balance its spectrum use across the U.S.
AT&T paid almost $2 billion for Verizon radio spectrum
AT&T will pay US$1.9 billion as well as "AWS (10 MHz) licenses in certain western markets, including Los Angeles, Phoenix, Fresno and Portland, Oregon" to Verizon. For that price, AT&T is getting 39 lower 700 MHz B Block licenses in several markets throughout the US.
Verizon also said it was licensing LTE spectrum to 20 rural operators in order to jumpstart the deployment of LTE in rural America.
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