AT&T to Buy Qualcomm’s Spectrum for $1.93 Billion

AT&T Inc., the second-largest U.S. mobile-phone carrier, agreed to buy wireless spectrum from Qualcomm Inc. for $1.93 billion as customers increasingly use bandwidth-hogging services such as video downloads.

The spectrum, in the lower 700 megahertz frequency band, covers 300 million people in the U.S., the companies said today in a statement. Chipmaker Qualcomm had acquired the spectrum for its mobile-TV service, which it plans to shut down in March.

AT&T is upgrading its third-generation network to allow for higher speeds while it works on building out its fourth- generation network to debut next year. Larger rival Verizon Wireless turned on 4G service earlier this month.

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- Posted: 2010-12-20 09:09:11

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