T-Mobile Sells 600 Towers to Phoenix Tower
T-Mobile has finalized the sale of some 600 cell towers to Phoenix Tower International. The deal, first announced in August, transferred ownership and management rights to Phoenix Tower. Terms of the transaction were not disclosed. T-Mobile is preparing its finances for next year's incentive auction. The sale could provide T-Mobile with some of the cash needed for the spectrum licenses. T-Mobile said it would spend up to $10 billion for the valuable low-band airwaves.
T-Mobile Says It Will Start Using 600 MHz Spectrum This Year
"T-Mobile now has the largest swath of unused low-band spectrum in the country," said T-Mobile CEO John Legere about the company's 600 MHz auction winnings. The company successfully won an average of 31 MHz (ranging between 20 MHz and 50 MHz) of the 70 MHz low-band spectrum auctioned off by TV stations and the FCC.
Verizon to Sell Landline Biz to Frontier for $10 Billion
Verizon Communications today confirmed plans to sell part of its wireline telephone and internet business to Frontier Communications for $10 billion. The deal covers Verizon's consumer and business assets in California, Florida, and Texas.
AT&T Ditching its Band 71 Licenses
AT&T is selling $1 billion worth of recently-acquired radio spectrum licenses to an obscure Virginia company, according to documents filed recently with the FCC. The spectrum in question is all (or nearly all) of the 600 MHz (band 71) licenses that AT&T acquired in an FCC auction just one year ago.
FCC's Incentive Auction Starts Tonight
The FCC said its incentive auction for 600 MHz airwaves officially gets under way at 6p.m. this evening, when broadcasters will need to commit to participating.
FCC Reverse Auction Drops Clearing Price to $54.6B
The FCC has wrapped up the initial phase of stage two of its incentive auction for 600 MHz airwaves, and drastically lowered the price for that spectrum. The initial clearing cost for all the 600 MHz spectrum was $86.4 billion, but bidders failed to come even close during the first round of bidding.