AT&T (NYSE:T)agreed to buy wireless airwave rights from Verizon Communications' (VZ) Verizon Wireless unit, along with spectrum licenses in 5 markets, for $1.9 bil cash. The licenses it's buying will cover a population of 42 mil people in 18 states. Verizon shares rose 0.2%.
Yahoo Inc will buy online blogging service Tumblr for $1.1 billion in cash, the company said on Monday.