AT&T Gets Approval for Qualcomm Deal
The Federal Communications Commission (FCC) gave approval Thursday afternoon for AT&T Inc. (NYSE: T) to acquire spectrum licenses from Qualcomm Inc. (Nasdaq: QCOM), The Wall Street Journal is reporting.
It's a $1.9 billion deal, announced a year ago, for 700MHz spectrum to augment AT&T's LTE buildout. You'll recall that the spectrum in question was once used for Qualcomm's FLO TV.
Why this matters
The FCC decision isn't a surprise, because Chairman Julius Genachowski has already said he doesn't mind the Qualcomm deal. But it's an important step. Spectrum is going to be a big issue for AT&T now, especially with Verizon Communications Inc. (NYSE: VZ) having amassed more spectrum through deals with the cable companies.
You'll find all our reporting on AT&T/T-Mobile (and its post-mortem) here.
And here are a few links related to Qualcomm and Verizon:
- AT&T Snaps Up Qualcomm's LTE Spectrum
- FLO TV Alive, But Not Well
- QuickPlay Sets Up Shop in FLO TV’s Old Digs
- DoJ Sniffs Around VZ Wireless-Cable Deals
- VZ Wireless Nabs Cox's AWS Spectrum for $315M
— Craig Matsumoto, West Coast Editor, Light Reading