AT&T To Buy Wireless Spectrum From EchoStar For $23 Billion Cash

AT&T said Tuesday it would buy wireless licenses from EchoStar for $23 billion, after a years-long saga over what the latter would do with its vast spectrum holdings. From a report: EchoStar was reportedly under pressure from regulators and the White House to either start selling its spectrum or potentially lose it. The cash payment is almost three times the size of EchoStar's entire market capitalization. AT&T said the acquired spectrum covers "virtually every" U.S. market, and will let it speed up and expand the deployment of its home wireless Internet service, as well as continue the phase-out of traditional copper phone line service.

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