AT&T, Verizon Wireless Swap Assets to Meet Regulatory Compliance

In order to comply with FCC requirements concerning their recent acquisitions, both AT&T and Verizon Wireless have agreed to swap certain wireless assets. Under the terms of the swap, AT&T will receive licenses, properties, assets and subscribers from Rural Celluar. This will let AT&T improve its coverage in New York, Kentucky, Vermont and Washington. In turn, AT&T will hand Verizon its former Dobson assets in Kentucky, spectrum in several markets, and cash. Both AT&T and Verizon have pending acquisition deals they are hoping to close.