in cities where T-Mobile and AT&T both operate. AT&T withdrew its application in December 2011 because the FCC and the Jus- tice Department's rejection of the proposed merger made it less likely that the merger would occur. The FCC granted approval for AT&T's purchase of Qualcomm's spectrum in the weeks following AT&T's withdrawal of its merger application. Per its merger Competition, Industry Structures, and Regulations agreement, AT&T will pay T-Mobile about $4 billion; $3 billion in cash and the rest in a spectrum transfer because the merger was canceled. T-Mobile's parent company, Deutsche Telekom AG, has stated its intention to find a different buyer for T-Mobile. Analyzing the Impact of a Merger on Consumers and Competition Mergers between large telecommunications companies require approval of the Federal Communications Commission (FCC) and the Department of Justice. The FCC bases its approval or disapproval on the impact the merger would have on customers. It might disapprove a merger if it determines that the merger is not in the interest of consumers. The Department of Justice evaluates mergers based on the competitive nature of markets. The FCC and the Department of Justice keep one another apprised during the process. They also bring in outside consultants to help them evaluate the impact of the proposed merger and additionally accept comments from the public. As a rule, com- petitors and other companies such as suppliers that might be impacted by the merger submit comments. Generally, when large mergers are approved, there are conditions that must be satisfied for approval. This occurred when Verizon Wireless acquired Alltel in 2008. Mobile Virtual Network Operators Not all cellular companies own the networks over which they sell mobile service. Providers that sell mobile service over other companies' mobile networks are called Mobile Virtual Network Operators (MVNOs). MVNOs buy mobile airtime in bulk at discount rates. They mark up and resell airtime and mobile services to their own customers. MVNOs 