T-Mobile and Verizon have formally entered into agreement which will see the nation's largest wireless carrier licensing spectrum to the fourth largest. Following regulatory approval, T-Mobile will gain improved AWS spectrum in 218 markets, including 15 of the top 25 U.S. markets, covering around 60 million people. Verizon, for its part, will receive spectrum that covers another 22 million people and some cash as well. While the application has been submitted to the FCC, it could be some time before anything happens in the consumer eye.
T-Mobile will gain spectrum covering 60 million people notably in Philadelphia; Washington, D.C.; Detroit; Minneapolis; Seattle; Cleveland; Columbus, Ohio; Milwaukee; Charlotte, N.C.; Raleigh-Durham, N.C.; Greensboro, N.C.; Memphis, Tenn.; and Rochester, N.Y. — in exchange for spectrum covering 22 million people and certain cash consideration. The agreement also includes exchanges in a number of markets in which the companies will swap licenses to create more contiguous blocks of spectrum and re-align spectrum in adjacent markets. These intra-market swaps will enhance T‑Mobile’s network performance and data throughput in key locations. This agreement is in addition to T-Mobile’s previously announced $4 billion 4G network evolution plan, which includes modernization of 37,000 cell sites, launching 4G HSPA+ services in the 1900 MHz band and deployment of LTE in 2013.