AT&T and Qualcomm have jointly announced today that the carrier will purchase the wireless spectrum licenses in the 700 MHz band from the telecom R&D company for $1.925 billion.
By doing so, AT&T will be able to offer 4G mobile broadband to millions of more customers in the near future.
Qualcomm was using the licenses to support the failed FLO TV service. The company has said it will fully shutdown the service in March.
The press release explains that the "spectrum covers more than 300 million people total nationwide: 12 MHz of Lower 700 MHz D and E block spectrum covers more than 70 million people in five of the top 15 U.S. metropolitan areas - New York, Boston, Philadelphia, Los Angeles and San Francisco; 6 MHz of Lower 700 MHz D block spectrum covers more than 230 million people across the rest of the U.S."
AT&T will begin deploying the new spectrum once handset manufacturers begin releasing compatible phones.
Both companies expect the sale to close in the Q2 2011.
Qualcomm was using the licenses to support the failed FLO TV service. The company has said it will fully shutdown the service in March.
The press release explains that the "spectrum covers more than 300 million people total nationwide: 12 MHz of Lower 700 MHz D and E block spectrum covers more than 70 million people in five of the top 15 U.S. metropolitan areas - New York, Boston, Philadelphia, Los Angeles and San Francisco; 6 MHz of Lower 700 MHz D block spectrum covers more than 230 million people across the rest of the U.S."
AT&T will begin deploying the new spectrum once handset manufacturers begin releasing compatible phones.
Both companies expect the sale to close in the Q2 2011.
