AT&T buys $2.5B worth of 700 MHz

AT&T has inked a deal with Aloha Partners to buy 12 MHz of 700 MHz spectrum covering 196 million people for $2.5 billion in cash. The spectrum covers 72 of the top 100 markets in the U.S. Aloha is the parent company of HiWire, a mobile TV company that had plans to launch a nationwide mobile TV service. HiWire had a trial with T-Mobile USA in Las Vegas.

"Customer demand for mobile services, including voice, data and video, is continually increasing," said Forrest Miller, group president-corporate strategy and development. "Aloha's spectrum will enable AT&T to efficiently meet this growing demand and help our customers stay connected to their worlds."

For more on the spectrum deal:
- read this press release from the carrier