AT&T To Buy Flo TV Spectrum For $1.9 Billion

After announcing plans earlier this year to shutter its struggling FLO TV service, Qualcomm today said it would sell the wireless spectrum for its mobile television network to AT&T for $1.9 billion. Qualcomm had acquired the rights to use the 700 megahertz spectrum for $683 million in government auctions held between 2003 and 2008.

AT&T, which last month was reported to be in discussions with Qualcomm regarding FLO TV spectrum, announced plans to use the 700 MHz licenses to help increase capacity for its 4G network, rolling out next year. The entire FLO TV footprint covers 300 million people nationwide including cities such as New York, Boston, Philadelphia and Los Angeles. The deal is subject to FCC and other approvals and AT&T and Qualcomm expect to close the sale during the second half of 2011.

The FLO TV network and business is expected to be shut down by March 2011. Qualcomm said the spectrum sales to AT&T would increase restructuring charges related to FLO TV previously estimated at $125 million to $175 million  for its fiscal 2011.

Recommend (1) Print RSS
  • FTC Calls For New Privacy Laws In Report On 'Internet Of Things'

    The potential privacy risks posed by the “Internet of Things,” or devices that connect with each other over the Web, is spurring the Federal Trade Commission to reiterate its calls for new legislation. “Although the Commission currently has authority to take action against some IoT-related practices, it cannot mandate certain ...
  • White House To Unveil Privacy 'Bill Of Rights'

    The White House will unveil a proposed privacy “bill of rights” by the end of next month, President Obama said on Monday. The measure will set out “basic baseline protections across industries,” Obama said. He signaled that the bill will limit companies' ability to collect data from consumers without their consent. ...
  • BabyBus Suspended From Google Play After FTC Warns Of Children's Privacy Violations

    The popular BabyBus apps appear to violate children's privacy laws, the Federal Trade Commission warns in a letter to the Chinese-based developer of the apps. “Several of your apps appear to collect precise geolocation information that is transmitted to third parties, including advertising networks and/or analytics companies,” Maneesha Mithal, associate ...
  • Judge Pauses Dispute Between Google And Miss. AG

    Google won't have to face any potential lawsuits by Mississippi Attorney General Jim Hood until at least next year, under an order issued on Monday by U.S. District Court Judge Henry Wingate in Jackson, Miss. Wingate said in the order that he was pausing all proceedings in the dispute between ...
  • Mississippi Attorney General Seeks Temporary Truce With Google

    Mississippi Attorney General Jim Hood said on Friday that he wants to pause an escalating dispute with Google regarding the company's search results. “I am calling a time out, so that cooler heads may prevail,” he said in a statement issued on Friday. Hood's statement came several hours after Google ...
  • Google Seeks Restraining Order Against Mississippi Attorney General

    Google on Friday asked a federal judge to prohibit Mississippi Attorney General Jim Hood from following through on a threat to sue the company for enabling Web users to access “illegal” content. Google also is asking for an injunction prohibiting Hood from enforcing a subpoena demanding information relating to outside ...
  • Deutsch L.A. Settles FTC Charges That Employees Posed As Consumers On Twitter

    Deutsch L.A. engaged in a deceptive practice with an ad campaign that involved asking employees to promote Sony's PlayStation Vita on Twitter, the Federal Trade Commission alleged in a complaint unveiled on Tuesday. The resulting Twitter posts, which ran in 2012 and carried the hashtag #gamechanger, allegedly didn't indicate they ...
  • Aereo Declares Bankruptcy

    Online video distributor Aereo, which suspended operations three days after its Supreme Court defeat in June, said on Friday that it filed for bankrputcy. CEO Chet Kanojia says in a post on the company's blog that the move “will permit Aereo to maximize the value of its business and assets ...
  • Tom Noble Moves From BMW Australia To Oversee Mini U.S.A. Marketing .

    Mini U.S.A. has tapped Tom Noble, a marketer at BMW Australia, as department head, Mini Brand Communications. Noble, who will handle all brand positioning duties for Mini in the U.S. at the company's U.S. headquarters in Woodcliff Lake, N.J., replaces Tom Salkowsky, who was shifted overseas to be department head, ...
  • Sources: Steve Shannon Out As Top Hyundai Motor America Marketer

    Sources close to the company say Steve Shannon, VP marketing, is departing Hyundai Motor America. No confirmation from HMA or Shannon just yet. The General Motors alumnus, who tied up his 25 years at GM as marketing chief at Cadillac, was hired by the Orange Country, CA-based marketer in 2011. ...
>> Raw Archives