Last summer, AT&T announced that it had reached an acquisition deal with Leap Wireless. The company said that it would be buying out the provider, which owns and operates the popular prepaid carrier Cricket, for $15 per share—equal to $1.3 billion. All it needed was approval from the FCC.
And it just got it. Yesterday the Federal Communications Commission gave AT&T's acquisition proposal a thumbs up, ruling that "the public interest benefits of the proposed transaction outweigh the likelihood of significant public interest harms." So what does this mean for everybody involved?