Monday, October 8, 2007

AT&T Acquires 700 MHz Spectrum for $2.5 Billion

AT&T will acquire spectrum licenses in the 700 MHz frequency band from Aloha Partners for $2.5 billion in cash. The spectrum licenses cover areas with approximately 196 million people.

AT&T said the transaction enhances its spectrum position by adding 12 MHz of spectrum covering 196 million people in 281 markets. The spectrum covers many major metropolitan areas, including 72 of the top 100 and all of the top 10 markets in the United States.

  • Delaware-based Aloha Partners is headed by Charles Townsend, who was the founder and CEO of the Atlantic Cellular Company from 1989 - 1998. In 1998, Atlantic Cellular was sold to Rural Cellular Corp. Atlantic Cellular grew to be the fourth largest cellular company in New England by 1998 when it was sold.