Seems while everybody in the US was lining up to buy an iPhone from AT&T, it was just finishing some spending of its own, namely the purchase of Dobson Communications -- operating as Cellular One. AT&T dropped $2.8 billion for Dobson plus assumed its debt which knocks the total up to the $5.1 billion mark, not chump change. The buyout of will pad AT&T's subscriber list with an additional 1.7 million users -- perhaps even lifting them to number one (if they weren't already) in wireless subscribers. Not a bad bit of business for AT&T, now we know where the ridiculous loads of cash from iPhone sales will go. No news on dates, but we will likely hear more in the coming days.

[Thanks, Eric]

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AT&T buys Dobson Communications for a cool $2.8 billion