AT&T and Verizon are coming to an agreement — a $1.9 billion agreement, that is, in which both carriers will engage in some spectrum-swapping.

This deal comes at the conclusion of Verizon’s huge spectrum-buying spree. That acquisitive frenzy started back in 2011 and saw Verizon snapping up huge swaths of spectrum from cable companies, a move that aroused plenty of raised eyebrows from federal regulators and competitors. In fact, T-Mobile asked feds to kill the acquisition deals, which it said would give Verizon an “excessive concentration” of spectrum and stifle competition.

Now, the carrier is ready to offload some of that spectrum, albeit not to poor ol’ T-Mo.

Verizon Wireless announced today it will sell 39 lower 700 MHz B Block licenses to AT&T for the aforementioned chunk of change. Also, AT&T will give Verizon Wireless AWS (10 MHz) licenses in certain Western markets, including Los Angeles, Phoenix, Ariz., Fresno, Calif., and Portland, Ore.

The 39 licenses being sold to AT&T will cover the following markets:

Los Angeles,
Oklahoma City,
Memphis, Tenn.
West Palm Beach, Fla.
Rochester, N.Y.
Youngstown, Ohio
Lake Charles, La.
Fort Collins, Colo.
Bradenton, Fla.
Alexandria, La.
Billings, Mont.
Rapid City, S.D.
Tyler, Texas
Longview, Texas
Waco, Texas
Texarkana, Texas
Great Falls, Mont.
Pueblo, Colo.
Casper, Wyo.
Utah 1, 4, 5, and 6
Louisiana 1, 2, and 3
Wyoming 2
Washington 2
Idaho 5
Texas 18
Colorado 4
New Mexico 5
Virginia 10
Montana 8 and 9
South Dakota 1