AT&T said it will make a $1.3 billion down payment for the B Block Spectrum the company has won in the recent 700 MHz FCC auction. The down payment, $500 million of which was already paid before the auction, is expected to be transferred within 10 business days.
The remaining balance of $5.3 billion is due "on or before" April 17. AT&T said that the added 700 MHz spectrum will cover 100% of the top 200 markets, while AT&T expects to have "quality spectrum available for new services covering 95 percent of the U.S. population."