Verizon, Leap Wireless announce spectrum swap
Verizon Wireless and Leap Wireless announced a spectrum swap as carriers wheel and deal for network capacity.
Under the deal, Leap Wireless will acquire 12 Mhz of 700 Mhz A-block spectrum in Chicago for $204 million. Verizon will acquire excess spectrum in various markets around the U.S. for $188 million.
A Leap venture–Savary Island Wireless–will also sell spectrum to Verizon for $172 million.
The arrangement comes just a few days after Verizon Wireless acquired wireless spectrum from cable providers to bolster its coverage. The Verizon deal with the cable companies was a nice countermove to ATT, which needs spectrum if its T-Mobile purchase ultimately falls apart.
Leap said its goal was to bolster its coverage in Chicago. For Verizon, the arrangement gives it more spectrum to squeeze ATT.
This story was first published as “Verizon Wireless, Leap Wireless swap spectrum” at ZDNet’s Between the Lines.
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Article source: http://news.cnet.com/8301-1035_3-57337113-94/verizon-leap-wireless-announce-spectrum-swap/
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