Merger and acquisitions in telecoms, at a glanceJuly 12, 2013 @ 3:12 pm
(AP) - The two largest wireless carriers, Verizon Wireless and AT&T, have been trying to bolster their spectrum holdings, while the next largest, Sprint and T-Mobile, have been seeking to make alliances to compete better. Here's a look at the merger and acquisition activity in the telecommunications industry since last summer:
_ June 26, 2012: Verizon Wireless agrees to sell some airwave rights to T-Mobile and swap others.
_ Aug. 2: AT&T Inc. announces three deals aimed at boosting its spectrum holdings. They are with Comcast Corp., NextWave Wireless Inc. and Horizon Wi-Com.
_ Aug. 24: A consortium of cable companies sell their spectrum holdings to Verizon Wireless for $3.6 billion.
_ Oct. 3: T-Mobile USA's parent company, Deutsche Telekom AG of Germany, agrees to buy MetroPCS Communications Inc. and merge T-Mobile into it.
_ Oct. 11: Japan's Softbank Corp. agrees to pay $20.1 billion for 70 percent of Sprint Nextel Corp., providing a much-needed cash boost for the struggling carrier.
_ Nov. 11: Sprint Nextel Corp. agrees to buy some U.S. Cellular Corp. service areas in the Midwest for $480 million.
_ Dec. 13: Sprint agrees to buy out the minority shareholders of wireless network operator Clearwire Corp., of which it already owns a majority.
_ Jan. 22, 2013: AT&T agrees to buy remnants of the Alltel network for $780 million.
_ Jan. 25: Verizon Wireless agrees to sell some spectrum rights to AT&T for $1.9 billion and swap some others.
_ April 30: T-Mobile completes acquisition of MetroPCS and becomes T-Mobile US Inc. T-Mobile adds 9 million MetroPCS customers to its own 34 million. T-Mobile plans to shut down MetroPCS's network over two years, freeing up space on the airwaves to improve its own coverage and data speeds.
_ July 9: Sprint completes acquisition of Clearwire.
_ July 10: Softbank completes Sprint deal, now worth $21.6 billion for a 78 percent stake. It comes after Softbank boosts its offer and satellite TV operator Dish Network Corp. abandons its $25.5 billion bid to buy Sprint in its entirety. As part of the new ownership, Sprint Nextel is changing its name to Sprint Corp.
_ July 12: AT&T says it will acquire Leap Wireless, the service provider of pre-paid, contract-free plans under the Cricket brand, for about $1.19 billion in cash. The purchase gives the nation's second largest cellphone carrier a leg-up in serving customers who prefer not to have lengthy contracts. It also would give AT&T the right to using Leap's unused airwaves in expanding its existing network.
(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
Danny O'Neil says the Seahawks need to get their pass rush going in a hurry
Week In Photos
Gisele Bundchen leaps for joy and other stunning images from around the world
Please login below with your Facebook, Twitter, Google+ or Disqus account. Existing MyNorthwest account holders will need to create a new Disqus account or use one of the social logins provided below. Thank you.