FCC’s Approval Of AT&T’s Leap Buyout Will Bring iPhone 5 Family To Cricket

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Cricket's 7 million U.S. customers will be able to buy the iPhone next month.
Cricket's 7 million U.S. customers will be able to buy the iPhone next month.

The U.S. Federal Communications Commission (FCC) has approved AT&T’s $1.3 billion purchase of Leap Wireless, as per a recent report.

As part of the deal — which works out at $15 per share — AT&T has confirmed that the Leap-owned, pre-paid carrier Cricket will offer iPhone 5 family devices.

AT&T To Purchase Leap Wireless, Parent Company Of Prepaid Carrier Cricket

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AT&T plans to purchase Leap Wireless for $15 per share. Leap is the parent company of Cricket Wireless, a small U.S. carrier that sells the iPhone prepaid. In a press release issued today, both carriers confirmed the acquisition plans, explaining that “AT&T will acquire all of Leap’s stock and wireless properties, including licenses, network assets, retail stores and approximately 5 million subscribers.” Leap is currently over $2 billion in debt, so the AT&T deal will help rescue what has been a sinking ship.

“AT&T will retain the Cricket brand name, provide Cricket customers with access to AT&T’s award-winning 4G LTE mobile network, utilize Cricket’s distribution channels, and expand Cricket’s presence to additional U.S. cities,” notes the press release. The acquisition will also help bolster AT&T’s coverage in select areas around the country. More importantly, Cricket customers will have access to AT&T’s more robust 4G LTE network.