AT&T To Buy Cricket
Updated: Added total cash value. Added network synergy info. Added Chicago Lower 700 A-block info.
AT&T and Leap Wireless have reached a deal for AT&T to buy the smaller regional carrier, which operates under the Cricket brand. AT&T will keep and expand the Cricket brand to additional U.S. cities. The purchase includes all of Leap's assets, including 3,400 employees, 5 million customers, a CDMA and LTE network, and radio spectrum licenses covering 137 million people. Leap's LTE technology and mostly PCS (1900 MHz) and AWS (1700 MHz) radio spectrum holdings align with AT&T's network and LTE phones, which should ease integrating the two networks. One notable exception is the Lower 700 MHz A-block license for Chicago that Leap recently obtained in a license swap with Verizon Wireless. AT&T will sell that spectrum, since it is not compatible with AT&T's current phones. When asked, an AT&T spokesman declined to say how and when the Cricket CDMA network would be phased out, saying "we'll share details of our go-forward plan once the deal closes, which we believe will be 6 to 9 months from now." AT&T will pay $15/share for Leap, or about $1.2 billion total. About 30% of Leap shareholders have already agreed to vote in favor of the deal. The deal will be subject to FCC and Department of Justice review. AT&T tried and failed to buy T-Mobile in 2011, after the government objected. T-Mobile recently completed its purchase of MetroPCS, Cricket's main direct competitor.
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T-Mobile to Buy Chicago-Area Spectrum to Boost Coverage
T-Mobile today said it has agreed to buy 700 MHz spectrum from Leap in order to bring its "extended-range LTE" coverage to the Chicago metropolitan area. Specifically, T-Mobile is snagging A-Block 700 MHz spectrum covering Chicago, Elgin, Joliet, Waukegan, Evanston, Naperville, Aurora, Gary, Rockford, De Kalb, Janesville, Bloomington, Normal, Kankakee, Kenosha, and others.
Here we go again.
So more precisely, the question is how much should AT&T have relative to the other carriers?
They're buying it to dismantle it?
Naturally they will seek a unified network of compatible technology, as with all mobile network mergers. Cricket ...
AT&T just doesn't get it, do they?
No. AT&T. You will NOT be allowed to swallow up yet another small fry. Request denied.
Turns out AT&T just revoked their offer. Something about upsetting some guy on some board who didn't matter t...