UScellular to Sell Spectrum Assets for $1 Billion to Verizon

UScellular has agreed to sell $1 billion worth of spectrum licenses to Verizon and other mobile network operators. This strategic move is part of UScellular’s effort to monetize its remaining spectrum assets, ensuring broader usage across the country. The deal includes 850 MHz, AWS, and PCS licenses, contingent on regulatory approval. UScellular still holds significant low-, mid-, and mmWave spectrum and continues to seek buyers for its retained assets.
UScellular to Sell Spectrum Assets for  Billion to Verizon
Image Credit: USCellular

United States Cellular Corporation has entered into an agreement to sell part of its spectrum licenses to Verizon Communications Inc. for $1 billion. In addition, UScellular has struck deals with two other mobile network operators to sell additional spectrum assets. These transactions are part of UScellular’s ongoing strategy, announced in May 2024, to monetize its remaining spectrum assets not included in a previous agreement with T-Mobile.

“We’re pleased to unlock significant value from our spectrum licenses,” said Laurent C. Therivel, President and CEO of UScellular. “These agreements with several mobile operators ensure that our spectrum will be put to use across the country, benefiting consumers. We’re also continuing efforts to monetize the remaining spectrum assets not part of today’s announcement.”

Details of UScellular’s $1 Billion Spectrum Sale


UScellular’s agreement with Verizon involves the sale of 663 million MHz POPs of Cellular (850 MHz) spectrum licenses, along with 11 million MHz POPs of AWS and 19 million MHz POPs of PCS licenses. The total value of the transaction is $1 billion, payable in cash, subject to potential adjustments outlined in the purchase agreement. The deal is contingent on regulatory approval and standard closing conditions.

In separate deals, UScellular will sell 12 million MHz POPs of spectrum licenses in the CBRS, C-Band, and 700 MHz B/C Block bands to two additional mobile network operators. The details of these transactions, including the buyers and terms, have not been disclosed. These deals are also subject to regulatory approval.

All of these transactions are contingent upon the successful closing of UScellular’s proposed sale of its wireless operations and certain spectrum assets to T-Mobile.

Regulatory and Shareholder Green Light for UScellular Spectrum Sale

As UScellular’s majority shareholder, Telephone and Data Systems, Inc. (TDS), which holds 82 percent of UScellular, has already provided its written consent approving the Verizon transaction. No further action by other shareholders is required to finalize these transactions.

UScellular’s Remaining Spectrum Assets After the Sale

Following these sales, UScellular will still hold 3.4 billion MHz POPs of low- and mid-band spectrum, including licenses in the 700 MHz, 3.45 GHz, CBRS, and C-Band ranges. Additionally, UScellular retains 17.2 billion MHz POPs of mmWave spectrum. The company is actively working to monetize these retained spectrum assets.

Key Advisors Supporting UScellular’s Spectrum Sales

Citigroup Global Markets Inc. is acting as the lead financial advisor to TDS, with additional financial advisory support from Centerview Partners LLC, TD Securities (USA) LLC, and Wells Fargo. Legal counsel and regulatory advisory services are being provided by Wilkinson Barker Knauer and Clifford Chance LLP, respectively. PJT Partners LP and Cravath, Swaine & Moore LLP are advising the independent directors of UScellular.

About UScellular

UScellular provides a wide array of wireless services and products to 4.5 million customers across 21 states. Headquartered in Chicago, the company employs approximately 4,300 individuals as of June 30, 2024. At the close of the second quarter, Telephone and Data Systems, Inc. owned roughly 82 percent of the company. For more information, visit uscellular.com.


Recent Content

India’s internet subscriber base hit 969.10 million in FY25, with broadband users rising 2.17% and narrowband shrinking. TRAI data shows wireless ARPU up 16.89%, strong wireline growth, rural connectivity gains, and Jio-Airtel dominance — while DTH shrinks and OTT rises.
Virgin Media O2’s multi-year transformation redefines UK telecoms with digitalization, AI, and customer-first thinking. From legacy network upgrades and automation to AI tools like Daisy and Digital Twins, the operator’s strategy focuses on trust, reliability, and sustainable growth.
Tampnet has rolled out the world’s first fully autonomous private 5G network with Edge Compute offshore for Aker BP’s Edvard Grieg platform. This digital backbone provides real-time data processing, robust wireless coverage, and supports advanced offshore operations like autonomous drones, robotics, and predictive maintenance, setting a new standard for offshore oil and gas connectivity.
Ericsson has overhauled its Enterprise Wireless Solutions Partner Program, introducing a flexible structure that boosts deal registration benefits, streamlines partner tiers, expands the Mountaineer Program for technical and sales enablement, and adds the Partner View tool for clear performance tracking.
India’s Department of Telecommunications (DoT) has relaunched its plan to directly allocate spectrum for private 5G networks. The new demand study invites large enterprises and system integrators to signal interest in dedicated spectrum for captive 5G setups. If approved, this policy could enable Indian industries to run secure, high-speed networks without fully relying on telecom operators.
2025 has seen major telecom and tech M&A activity, including billion-dollar deals in fiber, AI, cloud, and cybersecurity. This monthly tracker details key acquisitions, like AT&T buying Lumen’s fiber assets and Google’s $32B move for Wiz, highlighting how consolidation is shaping the competitive landscape.
Whitepaper
Explore how Generative AI is transforming telecom infrastructure by solving critical industry challenges like massive data management, network optimization, and personalized customer experiences. This whitepaper offers in-depth insights into AI and Gen AI's role in boosting operational efficiency while ensuring security and regulatory compliance. Telecom operators can harness these AI-driven...
Supermicro and Nvidia Logo
Whitepaper
The whitepaper, "How Is Generative AI Optimizing Operational Efficiency and Assurance," provides an in-depth exploration of how Generative AI is transforming the telecom industry. It highlights how AI-driven solutions enhance customer support, optimize network performance, and drive personalized marketing strategies. Additionally, the whitepaper addresses the challenges of integrating AI into...
RADCOM Logo
Article & Insights
Non-terrestrial networks (NTNs) have evolved from experimental satellite systems to integral components of global connectivity. The transition from geostationary satellites to low Earth orbit constellations has significantly enhanced mobile broadband services. With the adoption of 3GPP standards, NTNs now seamlessly integrate with terrestrial networks, providing expanded coverage and new opportunities,...

Download Magazine

With Subscription

Subscribe To Our Newsletter

Scroll to Top

Private Network Readiness Assessment

Run your readiness check now — for enterprises, operators, OEMs & SIs planning and delivering Private 5G solutions with confidence.