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Paul Allen to sell wireless licenses to AT&T
By: The Associated Press | 16 Sep 2009 | 06:01 PM ET
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NEW YORK - Microsoft Corp. co-founder Paul Allen agreed sell wireless spectrum licenses in Oregon and Washington to a unit of telecommunications company AT&T Inc., according to a document filed with the Federal Communications Commission.

Allen has agreed to sell the licenses through his Vulcan Spectrum limited liability company to AT&T Mobility.

AT&T spokesman Michael Coe said the company is not disclosing financial terms. He said AT&T is buying the licenses to meet customer demand and to support its transition to LTE, or long-term evolution, a next-generation wireless network technology that promises to be faster than current standards.

Shares of AT&T fell 16 cents to close at $26.54 Wednesday.

Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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