Greg Bensinger for the Wall Street Journal:

T-Mobile USA and AT&T filed a request with the Federal Communications Commission for approval of the transfer of $1 billion in wireless airwaves AT&T promised as a result of the failure of its $39 billion bid to take over its smaller rival.

T-Mobile also gets $3 billion in cash; its consolation prize for having the acquisition deal with AT&T fall through. T-Mobile has said in the past its limited spectrum has hampered its growth, so agreement with AT&T should help.

(Hat tip: Engadget)