The Federal Trade Commission approved an impending swap of wireless assets between Verizon Wireless and AT&T. The agency gave the carriers early termination of the waiting period required under the Hart-Scott-Rodino antitrust law. The swap sees AT&T acquiring some of Rural Cellular's properties, licenses, network assets and subscribers in New York, Vermont and Washington. Verizon Wireless recently acquired Rural Cellular. As part of the deal, AT&T is also set to snap up a Kentucky cellular license from Verizon. Likewise, Verizon Wireless will acquire some former Dobson Communications properties in Kentucky. AT&T recently acquired Dobson.

For more on the asset swap:
- read this blurb in the WSJ (sub. req.)