AT&T plans to bring a fiber-optic gigabit network to Leawood, Kan., after Google Fiber canceled its own plans, citing "difficult construction." City officials this week unanimously approved AT&T's memorandum of understanding, which does not include details of AT&T's build-out plans for the network.
AT&T says it will concentrate its corporate resources on building out its fiber-optic and wireless networks, meaning that it will cut back on the number of shares it buys back from investors. The telecom's board on Friday authorized 300 million additional share repurchases, the company announced while releasing a statement saying that it will issue future buybacks "opportunistically." AT&T has budgeted a record amount for capital expenditures in 2013.
AT&T has announced that it will invest $600 million to upgrade its fiber-optic networks in North Carolina and South Carolina. The company previously announced a $500 million upgrade plan in Georgia. AT&T CEO Randall Stephenson said that the company's U-Verse TV would be available in Atlanta by the end of the year.
AT&T's U-verse service will be offered in 14 cities or municipalities in Southern California, including Anaheim, Burbank, Glendale and Riverside. AT&T is still working with the city of Los Angeles with regard to installing the fiber-optic network needed to get the service.