Rumor Mill: Midwest to sell for $1B

According to rumors circulating the Internet, Verizon Wireless and Alltel are vying for a $1 billion acquisition of Midwest Wireless. Prices for small wireless providers like Midwest have surged recently because demand for wireless spectrum is high. Midwest only claims 400,000 subscribers, but the buyer would also get Midwest's spectrum and a larger footprint. Analysts see Verizon and Alltel as the mostly likely buyers because the companies CDMA-ready network infrastructures complement Midwest's and neither company has penetrated Midwest's geographic market.

For more on the possible sale of Midwest Wireless:
- read this story from RED HERRING

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