February 5, 2008

FCC Allows AT&T's Spectrum Deal

AT&T Inc., already the nation's largest cellphone provider, won U.S. government approval to buy highly coveted airwaves licenses that cover 196 million people in 281 markets.

The Federal Communications Commission yesterday released an order approving the company's $2.5 billion cash buyout of Aloha Partners LP and its spectrum holdings.

The licenses are in the much-sought-after 700-megahertz band that is being vacated by television broadcasters. It is next to spectrum that is being auctioned by the FCC and has drawn record bids.

[via The Wall Street Journal]

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