AT&T, Verizon Wireless Swap Assets to Meet Regulatory Compliance
In order to comply with FCC requirements concerning their recent acquisitions, both AT&T and Verizon Wireless have agreed to swap certain wireless assets. Under the terms of the swap, AT&T will receive licenses, properties, assets and subscribers from Rural Celluar. This will let AT&T improve its coverage in New York, Kentucky, Vermont and Washington. In turn, AT&T will hand Verizon its former Dobson assets in Kentucky, spectrum in several markets, and cash. Both AT&T and Verizon have pending acquisition deals they are hoping to close.
Verizon and T-Mobile Agree to $173M Spectrum Swap
Verizon Wireless and T-Mobile have agreed to exchange AWS-1 and PCS spectrum in dozens of markets around the country in a deal valued at $173 million. The spectrum in question covers portions of Arkansas, California, Illinois, Indiana, Iowa, Kentucky, Massachusetts, Minnesota, Mississippi, Missouri, Montana, New York, North Dakota, Ohio, Pennsylvania, South Dakota, Tennessee, and Virginia.
Sprint to Sell Certain Network Assets for $2.2 Billion
Sprint has agreed to sell select network assets to a company called Network LeaseCo and then lease back those assets for an unspecified sum. The move is meant to boost Sprint's cash position and will eventually add $2.2 billion to the company's coffers.
Uber Buys Some of Microsoft's Bing Assets
Uber has agreed to acquire about 100 engineers and other assets from Microsoft's Bing product. Specifically, Uber will take possession of Bing's "product image collection activities," according to TechCrunch.
AT&T Taps East Kentucky Network for 700MHz Licenses
AT&T has filed paperwork with the FCC hoping to gain permission to purchase three Lower 700MHz C Block licenses from East Kentucky Network. The licenses in question cover 20 counties in three Cellular Market Areas across regions of Kentucky, Ohio, and West Virginia.
What about Oregon 6 and Oregon 3
No real big deal.