UScellular To Sell Select Spectrum Assets To AT&T For $1 Billion

At the end of May 2024, UScellular T-Mobile announced it had reached an agreement with UScellular to acquire a large part of UScellular’s wireless operations in a deal worth $4.4 billion.

For T-Mobile, the move included gaining control over UScellular’s wireless customers and stores, along with some spectrum assets.

Now, UScellular revealed through a news release published on its website that it has struck a deal with AT&T to monetize spectrums not included in the T-Mobile agreement.

The agreement is part of a previous announcement made in October 2025, which spanned selling a portion of the retained spectrum licenses to Verizon and two other mobile network operators.

As such, the agreement with AT&T comprises the sale of select spectrum assets amounting to $1.018 billion.

UScellular’s President and CEO, Laurent Therivel, said, “We are pleased with the significant value that will be realized in the various transactions recently announced.” 

“This agreement adds a fourth mobile network operator, in addition to T-Mobile, to the list of those whose subscribers will benefit from the sale of our spectrum licenses.”

“As with the other mobile network operators, we are confident that AT&T can put it to productive use in communities throughout the U.S. Furthermore, the terms of the agreement will ensure that there will be continued, uninterrupted service for UScellular customers in the interim.”

This transaction, along with the previously announced ones, means that UScellular has reached definitive agreements to monetize around 55% of its spectrum holdings (measured on a MHz-Pops basis) that were excluded from the proposed T-Mobile sale. As such, it represents a value of around $2.02 billion.

With the inclusion of the T-Mobile transaction, the monetized agreements represent around 70% of its total spectrum holdings.

However, these percentages exclude UScellular’s mmWave (millimeter wave) spectrum assets.

Speaking about the remaining spectrum assets, Therivel said, “After our proposed sales, we will be left with 1.86 billion MHz-Pops of low and mid-band spectrum, as well as 17.2 billion MHz-Pops of mmWave spectrum, with the substantial majority of retained value in the C-band spectrum.”

Therivel believes the C-band licenses possess attributes that can deliver value in the long run, which include delivering outstanding speed and capacity, a vast 5G ecosystem of equipment vendors that utilize the C-band, and a lengthy build-out time that stretches to 2033.

“This provides ample time and optionality for us to either monetize or deploy the spectrum in the future. We will continue to look for ways to opportunistically monetize the C-band, as well as the other remaining spectrum.”


On the other end of the deal sits AT&T, which recently announced the launch of an industry-first seamless integration of fiber and 5G networks using a single-box solution.

The new product marks AT&T’s first converged device for business customers, as it enforces seamless connectivity. In the rare event of a fiber outage, the gateway automatically switches to AT&T’s 5G network and reverts to fiber when service is restored.

This 5G-Capable internet single-box solution comes equipped with Wi-Fi 6E technology, automatic failover and recovery, and offers cost-efficiencies as it reduces potential downtime costs and eliminates the need for additional IT support.

Mike Troiano, SVP of Business Products at AT&T Business, said, “The introduction of our first-ever integrated device marks a transformative step in defining the future of connectivity.”

“AT&T’s integrated gateway exemplifies our commitment to innovation, enhancing our connectivity portfolio to meet their current and future business needs, empowering them to grow, scale and thrive in an ever-evolving landscape.”

Do you think this agreement will help AT&T bolster its offerings and help it grow its customer base?

Let us know in the comments below!