AT&T and Verizon conclude asset swap

AT&T announced on Monday that its mobile division has finalized the swap of wireless assets with Verizon Wireless, as the agreement was approved by the FCC and Department of Justice. Under the deal, AT&T Mobility has acquired former Rural Cellular Corporation properties that were bought by Verizon Wireless. The deal includes licenses, network assets and subscribers in metropolitan and rural service areas (RSAs) in Burlington, VT, RSA-2 in New York, RSA-1 and RSA-2 in Vermont, RSA-2 and RSA-3 in Washington and portions of Kentucky's RSA-6. The deal gives AT&T its first presence in the state of Vermont.

In exchange, Verizon Wireless has received former Dobson Communications Corporation licenses, network assets and subscribers, including RSA-6 and RSA-8 in Kentucky, as well as 10MHz of the PCS spectrum in a number of areas in addition to an unspecified cash amount. The swaps are part of the requirements AT&T Mobility agreed to when it acquired Dobson in 2007 for $2.8 billion.

Filed under: industry, mobile phones
Other story tags: AT&T, Verizon, FCC, Department of Justice, Rural Cellular, Dobson