Last month it was reported that AT&T was buying Straight Path, a very important 5G spectrum holder for $1.25 billion. The hefty sum ended up not being enough as Verizon swooped in at the last second and outbid AT&T to acquire Straight Path.<\/p>\n
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Verizon more than\u00a0doubled AT&T\u2019s offer, paying a reported $3.1 billion for the array of spectrum holdings. Straight Path is one of the most important millimeter wave spectrum holders with 735mm licenses in 39GHz and 133 licenses in 39GHz.<\/p>\n
Reuters<\/em> reported an unknown buyer placed an order for Straight Path after AT&T put in its offer. It turns out that buyer was Verizon, outmaneuvering AT&T for the highly sought after spectrum.<\/p>\n This is a major blow for AT&T\u2019s plans to build out its 5G network. Every major network has begun developing a 5G network, and its acquisitions like these that build up the infrastructure. AT&T, T-Mobile, Sprint and Verizon have already laid out their plans for 5G network development.<\/p>\n Aside from the enormous $3.1 billion sum, Verizon will also cover a $38 million termination fee Straight Path owes AT&T. At least it won\u2019t be leaving empty-handed.<\/p>\n Unfortunately, Straight Path will have to pay 20 percent of the acquisition sum to the FCC due to a previous settlement, which ends up totaling $620 million.<\/p>\nVerizon is paying handsomely for Straight Path<\/h3>\n