SAN DIEGO, Calif.—Leap Wireless International Inc. has begun touting the launches of several new markets on its Web site: Houston and College Station, Texas, and Cincinnati.
The Texas markets are set to launch June 7, according to the site, and Cincinnati is listed as “coming soon.” Bear Stearns analyst Phil Cusick noted in a research report that Leap’s “coming soon” usually means within two to four weeks.
Leap provides unlimited calling plans and prepaid service in 20 states, and recently agreed to a spectrum swap with Cingular Wireless L.L.C. Leap will get a 10 megahertz block in Rochester, N.Y. in exchange for 10 megahertz of its spectrum in Grand Rapids, Mich. The operator also is expected to be a player to watch in the upcoming Advanced Wireless Services spectrum, and has announced a forward stock sale to help fund spectrum purchases.
Cusick said that Leap is preparing to buy up to $1.1 billion in spectrum, which “could buy spectrum across much of Leap’s existing footprint and possibly double its current size.”
