AT&T to boost 5G coverage by buying telecom for $1.25 billion

AT&T has reached a deal to buy the telecommunications company Straight Path Communications for about $1.25 billion in stock, the companies announced April 10. The deal is expected to help AT&T better position itself for deploying 5G capabilities, as Spectrum is one of the largest holders of wireless spectrum that has been approved for use in next-generation networks. Straight Path shareholders will get $95.63 per share in the deal, which is worth about $1.6 billion. The merger will be subject to Federal Communications Commission review, and the companies say that they expect the deal to close within a year. In January, the company also bought FiberTower, another large holder of spectrum licenses.