U.S. Cellular has agreed to sell a portion of its spectrum licenses to AT&T in a deal valued at $1.02 billion.
This sale is part of U.S. Cellular’s plan to monetize its spectrum assets not included in a previous transaction with T-Mobile.
In May, U.S. Cellular announced a $4.4 billion deal with T-Mobile, covering nearly all of its wireless operations, including 30 percent of its spectrum holdings, as well as its customers and stores.
Last month, U.S. Cellular also agreed to sell select spectrum licenses to Verizon for $1 billion, furthering its efforts to maximize the value of its spectrum assets.
The company has made undisclosed deals with two other mobile network operators. U.S. Cellular CEO Laurent Therivel noted that the AT&T deal marks the fourth major network operator benefiting from these transactions.
With these agreements, including the pending T-Mobile sale, U.S. Cellular has now monetized about 70 percent of its total spectrum holdings, excluding high-frequency mmWave spectrum.