The AT&T-Leap Spectrum Depth (A Map View)

Spectrum is indeed a prime factor in any wireless carrier acquisition. Spectrum maps play an important role in understanding deal motivation and what the resulting merged entities' national spectrum depth looks like.

The Leap spectrum view:

Though Leap's spectrum (mainly PCS and AWS (the 700 in Chicago is for sale)) goes beyond their operating regional markets, the company's business model focuses in on densely populated markets. 

The AT&T spectrum view:

The combined AT&T-Leap spectrum view:

With the Leap spectrum, AT&T is strengthened in some heavily contested markets including, the Mid-Atlantic, central California, Las Vegas (better AT&T service at CTIA?), Denver, KC (Sprint's backyard), St. Louis (Sprint's newest market acquisition from US Cellular), and Northwest (Seattle - T-Mobile's backyard). Of course, the big question is will spectrum need to be divested?  The Department of Justice uses the Herfindahl-Hirschman Index (HHI) to measure market concentration for purposes of antitrust enforcement.  

Note: Thanks to Mosaik for the use of their MapElements output.