has found a buyer for airwave licenses in two cities where it must divest itself of network property.
will pay $230 million for wireless spectrum in Dallas and Detroit, Cingular said. Those are two markets where Cingular must sell overlapping operations it acquired in its $41 billion buyout of
Regulators approved the deal on the condition that Cingular, a joint venture of
, get rid of wireless properties in 13 cities in 11 states.
This is the second block of network assets Cingular has sold in the past few days. On Friday,
agreed to pay $170 million for portions of AT&T Wireless' operations in six states.
Cingular is the nation's largest cell-phone service, with about 47 million subscribers. No. 2 wireless telco
-- a joint venture of
-- has more than 40 million customers.
Cingular parent BellSouth also made some executive changes Monday. The Atlanta telco named Mark Feidler chief operating officer and Dick Anderson vice chairman-planning and administration. BellSouth also said Ike Harris would serve as president of its advertising and publishing group.
Feidler took the chief staff officer post at BellSouth in January. Before that he was chief operating officer for Cingular Wireless.
BellSouth said Feidler, Anderson, Harris, finance chief Ron Dykes and general counsel Marc Gary will report directly to CEO Duane Ackerman.
In early trading Monday, SBC shares were unchanged at $25.48, and BellSouth was up 14 cents to $27.34.