Verizon and Straight Path have not commented yet, however, last month AT&T said it was planning to use the company's millimeter-wave (mmWave) spectrum to "accelerate the delivery of new experiences for consumers and businesses like virtual and augmented reality, telemedicine, autonomous cars, smart cities and more." At the time it said "AT&T will acquire 735 mmWave licenses in the 39 GHz band and 133 licenses in the 28 GHz band. These licenses cover the entire United States, including all of the top 40 markets."

Update: A Verizon representative declined to comment on the report.

Update 2 (5/11/17): Verizon has officially announced the deal, less than a day after reports surfaced. "Verizon will purchase Straight Path for $184 per share, or a total consideration of $3.1 billion, in an all-stock transaction. The transaction is anticipated to close within nine months, subject to FCC review," a press release on the purchase reads. For that price, the carrier gains millimeter wave spectrum ready for 5G, including 39 GHz licenses across the US and 28 GHz assets in key areas.