AT&T will pay $1.93 billion for a swath of spectrum licenses from Qualcomm as AT&T looks to bolster its fourth-generation service and Qualcomm shutters its FLO TV service.

The deal frees up valuable wireless spectrum for AT&T to deploy as part of its 4G network, while allowing Qualcomm to stop investment in its struggling mobile broadcast video service. While Qualcomm has benefited from smartphones, FLO TV has been disappointing.