CBS 11 Header TXA 21 Header MeTV Header KRLD Header The Fan Header
CBS DFW WEATHER APP: iPhone App Store | Android App Coming Soon | More Information


AT&T To Buy Leap Wireless For About $1.2 Billion

Get Breaking News First

Receive News, Politics, and Entertainment Headlines Each Morning.
Sign Up

From Our CBS Music Web Sites

454116976 AT&T To Buy Leap Wireless For About $1.2 BillionKe$sha's Scandalous Pre-VMA Selfie

452359772 10 AT&T To Buy Leap Wireless For About $1.2 BillionBikini Model Pictures

 alt=New Survivor Cast Photos

453947324 AT&T To Buy Leap Wireless For About $1.2 BillionIce Bucket Challenge Fail

 alt=Musicians Then And Now

cowb thumb AT&T To Buy Leap Wireless For About $1.2 BillionCowboys Cheerleaders

DALLAS (AP) - AT&T says it will acquire Leap Wireless, the pre-paid cellphone carrier behind the Cricket brand, for $15 a share in cash, or about $1.19 billion.

Under the deal, AT&T will buy all of Leap’s stock and wireless properties, including licenses, network, retail stores and 5 million subscribers.

Leap, of San Diego, had $2.8 billion of net debt.

AT&T says it will keep the Cricket brand name and provide Cricket customers with access to AT&T’s “4G LTE” high-speed wireless network.

It also plans to expand Cricket’s presence in the U.S.

Leap shares, which closed at $7.98, jumped 94 percent to $15 .52 in after-hours trading Friday.

(© Copyright 2013 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

Also Check Out: