Verizon to Buy $1 Billion of UScellular Spectrum
The price is higher than analysts expected, New Street said.
WASHINGTON, Oct. 21, 2024 – The UScellular breakup continues: the company announced Friday it would sell spectrum licenses to Verizon for $1 billion.
The deal involves the UScellular’s 850 MegaHertz (Mhz) licenses, as well as some licenses in the PCS and AWS bands. T-Mobile is moving to acquire the company’s 4 million customers and a chunk of spectrum for $4.4 billion.
“We are pleased that significant value for a portion of the remaining licenses will be realized,” UScellular CEO Laurent Therivel said in a statement. “We are continuing the process to opportunistically monetize the remaining spectrum assets not included in today's announcement.”
