Wireless company AT&T Inc. (NYSE: T) will acquire spectrum from rival wireless company Verizon Wireless Inc. (NYSE: VZN) for $1.9 billion in cash, amid a flurry of wireless deals.

AT&T is buying spectrum in the 700 MHz band that covers 42 million people in 18 states, including California, New York and Texas.

Subscribe Now

Complete access to real-time information and analysis of news and trends in the industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.