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AT&T to buy Alltel operations

7:20 PM, Jan. 22, 2013  |  Comments
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DALLAS - AT&T Inc. said Tuesday that it has reached a deal to buy remnants of the Alltel wireless network for about $780 million to boost its spectrum holdings in rural areas.

The Dallas-based phone company is buying the licenses, retail stores and network assets, along with about 585,000 subscribers, from Atlantic Tele-Network Inc. The news sent the Beverly, Mass.-based company's shares up $4.73, or 12 percent, to $44.10 in late afternoon trading. AT&T shares added 30 cents to $33.74.

The network, operated under the Alltel brand, covers about 4.6 million people in mainly rural areas across six states - Georgia, Idaho, Illinois, North Carolina, Ohio and South Carolina.

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If you've ever answered "Who has the ball?" with "It's halftime," you might recognize The Airhead. Check out the characters in our cartoon gallery of oddball fans.

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