5. Verizon Closes Straight Path Deal For $3.1 Billion
After a back-and-forth, monthlong bidding battle with competing carrier AT&T, Verizon completed its purchase of wireless spectrum holder Straight Path Communications for $3.1 billion in an all-stock transaction.
Verizon, based in Basking Ridge, N.J., said the deal gives it valuable millimeter wave (mmWave) spectrum licenses that cover the entire U.S., including within the top 40 markets. Straight Path's hard-to-come-by 39GHz and 28GHz wireless spectrum licenses can be used to develop 5G networks, which was why the provider was appealing to both AT&T and Verizon as the two providers aggressively build out their next-generation networks.