News Summary: T-Mobile spectrum deal with Verizon

Associated Press

THE DEAL: Verizon Wireless has agreed to sell some wireless spectrum rights to T-Mobile USA and swap others. Verizon says it would improve the ability of both companies to offer fast wireless data services.

THE CATCH: It's contingent upon regulators approving a bigger spectrum deal Verizon has worked out earlier with a consortium of cable companies and another wireless carrier. Those deals have met resistance from public-interest groups who say Verizon doesn't need more spectrum.

TERMS: Neither T-Mobile nor Verizon said what T-Mobile would pay Verizon for the spectrum.

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