We suppose you could think of AT&T and Verizon as football teams and wireless markets as high-priced players, because a few of 'em just got traded like the athletic pieces of meat that they are. It's no secret that Verizon had to offload some markets
to satisfy government requirements following its Alltel buy, and AT&T has now agreed in principle to pick up about 1.5 million subscribers' worth of spectrum and equipment in 79 market areas -- mostly rural -- for some $2.35 billion in cash. In the other direction, Verizon will be cutting AT&T a check for $240 million in exchange for about 120,000 subs in five legacy Centennial markets -- contingent, of course, on the successful completion of AT&T's purchase of Centennial
. Interesting moves, but it'll be even more interesting to see which move leads its team to the playoffs... er, you know what we mean.
- AT&T agrees to acquire divestiture properties from Verizon
- Verizon acquires certain Centennial Wireless properties from AT&T
*Verizon is currently in the process of acquiring AOL, Engadget's parent company. However, Engadget maintains full editorial control, and Verizon will have to pry it from our cold, dead hands.