Leap Wireless, T-Mobile strike deal to swap spectrum, pending FCC approval

Earlier today, Cricket's parent company Leap Wireless announced a deal that'd see its own Savary Island Wireless, T-Mobile and Cook Intlet/VS GSM VII GPS (itself a T-Mo venture) swap spectrum in a handful of markets. The agreement lets Leap Wireless inherit 10MHz of AWS waves in Phoenix, Houston, Galveston, and Brian-College Station, TX, while the Magenta carrier -- in partnership with Cook Intlet -- would receive spectrum in various markets within Alabama, Illinois, Missouri, Minnesota and Wisconsin. Leap's CEO Doug Hutchenson says the move's bound to help "provide us a longer term flexibility to offer a larger LTE channel." Of course, the pact still needs the OK from the FCC, thus the champagne bottles must remain on standby until then.