AT&T to buy Leap Wireless for $1.19 billion

AT&T dropped an interesting bit of news this afternoon: it's going to purchase Leap Wireless in its entirety for $15 per share, which translates to roughly $1.19 billion in cash. For many, Leap is best known by its consumer-facing brand, Cricket, a prepaid wireless provider that holds nearly 5 million subscribers. In exchange, AT&T will acquire Leap's customers, retail stores and network licenses, which span 35 states across the PCS and AWS bands. Leap's stock closed at $7.98 today, but shot pas...