Verizon, T-Mobile Agree Spectrum Swap Pending Cable Deal

Verizon Communications (TBV)

Verizon Communications (TBV) (Photo credit: L_cy)

By Scott Moritz and Todd Shields – Verizon Wireless, the largest U.S. wireless carrier, agreed to sell airwave licenses to T-Mobile USA Inc., contingent on Verizon completing a $3.6 billion acquisition of spectrum from cable companies.

In the deal, Verizon will swap advanced wireless services, or AWS, spectrum covering 60 million people for airwaves from T- Mobile covering 22 million people plus an undisclosed payment. more>

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