[Company Overview and Q2 2025 Highlights](index=1&type=section&id=Company%20Overview%20%26%20Q2%202025%20Highlights) [Company Name Change and Earnings Announcement](index=1&type=section&id=Company%20Name%20Change%20and%20Earnings%20Announcement) Array Digital Infrastructure, Inc. (formerly United States Cellular Corporation) announced its Q2 2025 results, reporting a slight year-over-year decrease in total operating revenues but significant growth in net income and diluted earnings per share attributable to Array shareholders - United States Cellular Corporation was renamed **Array Digital Infrastructure, Inc.** on August 1, 2025[1](index=1&type=chunk) Q2 2025 Consolidated Financial Highlights (Year-over-Year) | Metric | Q2 2025 | Q2 2024 | Change (%) | | :-------------------------- | :-------- | :-------- | :--------- | | Total Operating Revenues | $916M | $927M | (1)% | | Service Revenues | $736M | $743M | (1)% | | Net Income Attributable to Array Shareholders | $31M | $17M | 82% | | Diluted Earnings Per Share | $0.36 | $0.20 | 80% | [Recent Highlights and Strategic Initiatives](index=1&type=section&id=Recent%20Highlights%20and%20Strategic%20Initiatives) Array completed its T-Mobile transaction, declared a special dividend, and is transitioning to a tower-centric business, with pending spectrum deals with Verizon and AT&T anticipated in H2 2025 and Q3 2026 - Array completed the sale of its wireless business and certain spectrum assets to T-Mobile on August 1, 2025, for a total consideration of **$4.3 billion** (including cash and assumed debt)[5](index=5&type=chunk) - A special dividend of **$23.00 per share** was declared, payable on August 19, 2025[5](index=5&type=chunk) - Third-party tower revenues increased by **12% year-over-year**[9](index=9&type=chunk) - Pending spectrum transactions with AT&T and Verizon are expected to close in **H2 2025** and **Q3 2026**, respectively[9](index=9&type=chunk) [About Array and Business Description](index=2&type=section&id=About%20Array%20and%20Business%20Description) Array Digital Infrastructure, Inc. is a leading US owner and operator of shared wireless communication infrastructure, managing over 4,400 cellular towers to support 5G and other wireless technologies, with Telephone and Data Systems, Inc. holding approximately 82% equity as of August 1, 2025 - Array is a leading US owner and operator of shared wireless communication infrastructure[11](index=11&type=chunk) - The company owns over **4,400 cellular towers**, supporting 5G and other wireless technology deployments[11](index=11&type=chunk) - As of August 1, 2025, Telephone and Data Systems, Inc. holds approximately **82% of Array's equity**[11](index=11&type=chunk) [Safe Harbor Statement](index=2&type=section&id=Safe%20Harbor%20Statement) This report contains forward-looking statements subject to various risks and uncertainties that could cause actual results to differ materially from expectations, including operational changes, strategic decisions for the tower business, tenant dependency, extreme weather, spectrum sale completion, and industry competition - Forward-looking statements are subject to risks and uncertainties, including Array's remaining business operations, strategic decisions for the tower business, revenue dependency on a few tenants, extreme weather events, completion of spectrum license sales to Verizon and AT&T, and competition in the tower industry[12](index=12&type=chunk) [Summary Operating Data](index=3&type=section&id=Summary%20Operating%20Data) [Retail Connections and ARPU/ARPA](index=3&type=section&id=Retail%20Connections%20and%20ARPU%2FARPA) In Q2 2025, Array experienced a quarter-over-quarter and year-over-year decline in postpaid and prepaid connections, while postpaid ARPU slightly decreased QoQ but increased YoY, and prepaid ARPU increased QoQ but decreased YoY Retail Connections (Quarter-over-Quarter and Year-over-Year) | Metric | 6/30/2025 | 3/31/2025 | 6/30/2024 | QoQ Change | YoY Change | | :-------------------- | :-------- | :-------- | :-------- | :--------- | :--------- | | Postpaid Total | 3,904,000 | 3,946,000 | 4,027,000 | (42,000) | (123,000) | | Postpaid Net Additions (Losses) | (42,000) | (39,000) | (24,000) | (3,000) | (18,000) | | Prepaid Total | 429,000 | 431,000 | 439,000 | (2,000) | (10,000) | | Prepaid Net Additions (Losses) | (2,000) | (17,000) | 3,000 | 15,000 | (5,000) | Average Revenue Per User (ARPU) and Average Revenue Per Account (ARPA) | Metric | 6/30/2025 | 3/31/2025 | 6/30/2024 | QoQ Change | YoY Change | | :-------------------- | :-------- | :-------- | :-------- | :--------- | :--------- | | Postpaid ARPU | $51.91 | $52.06 | $51.45 | ($0.15) | $0.46 | | Postpaid ARPA | $131.89 | $132.25 | $130.41 | ($0.36) | $1.48 | | Prepaid ARPU | $31.72 | $30.76 | $32.37 | $0.96 | ($0.65) | [Churn Rates](index=3&type=section&id=Churn%20Rates) Postpaid churn rates increased both quarter-over-quarter and year-over-year, primarily driven by handset churn, while prepaid churn rates significantly decreased QoQ but remained largely flat YoY Churn Rates (Quarter-over-Quarter and Year-over-Year) | Metric | 6/30/2025 | 3/31/2025 | 6/30/2024 | QoQ Change (bps) | YoY Change (bps) | | :-------------------- | :-------- | :-------- | :-------- | :--------------- | :--------------- | | Postpaid Churn Rate | 1.29% | 1.21% | 1.16% | 8 | 13 | | Postpaid Handsets Churn | 1.12% | 1.03% | 0.97% | 9 | 15 | | Postpaid Connected Devices Churn | 2.36% | 2.40% | 2.47% | (4) | (11) | | Prepaid Churn Rate | 3.58% | 4.17% | 3.60% | (59) | (2) | [Infrastructure and Capital Expenditures](index=3&type=section&id=Infrastructure%20and%20Capital%20Expenditures) Array's owned towers and colocations continued to grow, with a slight improvement in tower tenancy rate, while Q2 2025 capital expenditures significantly decreased year-over-year, reflecting a shift in strategic focus Infrastructure and Tenancy Metrics | Metric | 6/30/2025 | 3/31/2025 | 6/30/2024 | QoQ Change | YoY Change | | :-------------------- | :-------- | :-------- | :-------- | :--------- | :--------- | | Total Cell Sites in Service | 7,061 | 7,009 | 6,990 | 52 | 71 | | Owned Towers | 4,418 | 4,413 | 4,388 | 5 | 30 | | Number of Colocations | 2,527 | 2,469 | 2,392 | 58 | 135 | | Tower Tenancy Rate | 1.57 | 1.56 | 1.55 | 0.01 | 0.02 | Capital Expenditures (in millions) | Period | 6/30/2025 | 3/31/2025 | 6/30/2024 | QoQ Change | YoY Change | | :----- | :-------- | :-------- | :-------- | :--------- | :--------- | | Q2 | $80 | $53 | $165 | $27 | ($85) | [Consolidated Financial Statements](index=4&type=section&id=Consolidated%20Financial%20Statements) [Consolidated Statement of Operations](index=4&type=section&id=Consolidated%20Statement%20of%20Operations) Total operating revenues slightly decreased year-over-year in Q2 2025, mainly due to reduced equipment sales, yet net income attributable to Array shareholders surged by **80% to $31 million**, and diluted EPS grew by **81% to $0.36**, primarily driven by a substantial reduction in income tax expense Consolidated Statement of Operations Highlights (Q2 2025 vs Q2 2024) | Metric (in millions) | Q2 2025 | Q2 2024 | YoY Change (%) | | :------------------------------------ | :------ | :------ | :------------- | | Total Operating Revenues | $916 | $927 | (1)% | | Service Revenues | $736 | $743 | (1)% | | Equipment Sales | $180 | $184 | (2)% | | Total Operating Expenses | $881 | $891 | (1)% | | Operating Income | $35 | $36 | (4)% | | Income Before Income Taxes | $36 | $32 | 13% | | Income Tax Expense | $4 | $14 | (73)% | | Net Income Attributable to Array Shareholders | $31 | $17 | 80% | | Diluted EPS Attributable to Array Shareholders | $0.36 | $0.20 | 81% | [Consolidated Statement of Cash Flows](index=5&type=section&id=Consolidated%20Statement%20of%20Cash%20Flows) For the six months ended June 30, 2025, net cash provided by operating activities slightly decreased to **$485 million**, net cash used in investing activities significantly reduced to **$150 million** due to lower capital expenditures, and net cash used in financing activities also decreased to **$93 million**, resulting in a substantial increase in cash, cash equivalents, and restricted cash to **$401 million** at period-end Consolidated Statement of Cash Flows Highlights (Six Months Ended June 30) | Metric (in millions) | 2025 | 2024 | YoY Change | | :------------------------------------ | :--- | :--- | :--------- | | Net Cash Provided by Operating Activities | $485 | $516 | ($31) | | Net Cash Used in Investing Activities | ($150) | ($284) | $134 | | Net Cash Used in Financing Activities | ($93) | ($196) | $103 | | Net Increase in Cash, Cash Equivalents and Restricted Cash | $242 | $36 | $206 | | Cash, Cash Equivalents and Restricted Cash, End of Period | $401 | $215 | $186 | [Consolidated Balance Sheet](index=6&type=section&id=Consolidated%20Balance%20Sheet) As of June 30, 2025, total assets slightly decreased to **$10,377 million** from December 31, 2024, with a significant increase in cash and cash equivalents offset by reductions in accounts receivable and inventory, while total liabilities also decreased, mainly due to lower current liabilities, and total equity attributable to Array shareholders increased to **$4,600 million** Consolidated Balance Sheet Highlights (June 30, 2025 vs December 31, 2024) | Metric (in millions) | June 30, 2025 | Dec 31, 2024 | Change | | :------------------------------------ | :------------ | :----------- | :----- | | **Assets:** | | | | | Cash and Cash Equivalents | $386 | $144 | $242 | | Total Current Assets | $1,509 | $1,345 | $164 | | Licenses | $4,583 | $4,579 | $4 | | Property, Plant and Equipment, net | $2,313 | $2,502 | ($189) | | Total Assets | $10,377 | $10,449 | ($72) | | **Liabilities & Equity:** | | | | | Total Current Liabilities | $808 | $884 | ($76) | | Long-Term Debt, net | $2,819 | $2,837 | ($18) | | Total Array Shareholders' Equity | $4,600 | $4,577 | $23 | | Total Liabilities and Equity | $10,377 | $10,449 | ($72) | [Segment Results](index=8&type=section&id=Segment%20Results) [Overall Segment Performance](index=8&type=section&id=Overall%20Segment%20Performance) In Q2 2025, Array's total operating revenues decreased by **1% year-over-year**, primarily due to a decline in wireless segment revenue offset by a **7% growth** in tower segment revenue, leading to a **4% decrease** in consolidated operating income, with wireless operating income declining and tower operating income rising Consolidated Segment Operating Performance (Q2 2025 vs Q2 2024) | Metric (in millions) | Q2 2025 | Q2 2024 | YoY Change (%) | | :-------------------------- | :------ | :------ | :------------- | | **Operating Revenues:** | | | | | Wireless | $888 | $902 | (1)% | | Towers | $62 | $58 | 7% | | Total Operating Revenues | $916 | $927 | (1)% | | **Operating Income:** | | | | | Wireless | $14 | $17 | (21)% | | Towers | $21 | $19 | 11% | | Total Operating Income | $35 | $36 | (4)% | | **Adjusted OIBDA (Non-GAAP):** | | | | | Consolidated | $208 | $227 | (9)% | | **Adjusted EBITDA (Non-GAAP):** | | | | | Consolidated | $254 | $268 | (6)% | [Array Wireless Segment Performance](index=9&type=section&id=Array%20Wireless%20Segment%20Performance) The wireless segment's total operating revenues decreased by **1% year-over-year** in Q2 2025, driven by lower retail service revenues and equipment sales, with operating income declining by **21%** and capital expenditures significantly reduced by **52%** Array Wireless Segment Financial Data (Q2 2025 vs Q2 2024) | Metric (in millions) | Q2 2025 | Q2 2024 | YoY Change (%) | | :------------------------------------ | :------ | :------ | :------------- | | Retail Service Revenues | $652 | $666 | (2)% | | Equipment Sales | $180 | $184 | (2)% | | Total Operating Revenues | $888 | $902 | (1)% | | Total Operating Expenses | $874 | $885 | (1)% | | Operating Income | $14 | $17 | (21)% | | Adjusted OIBDA (Non-GAAP) | $174 | $196 | (11)% | | Capital Expenditures | $77 | $160 | (52)% | [Array Towers Segment Performance](index=9&type=section&id=Array%20Towers%20Segment%20Performance) The tower segment demonstrated strong performance in Q2 2025, with total tower revenues growing by **7% year-over-year to $62 million**, including a **12% increase** in third-party revenues, while operating income rose by **11% to $21 million**, Adjusted OIBDA increased by **9%**, and capital expenditures decreased by **51%** Array Towers Segment Financial Data (Q2 2025 vs Q2 2024) | Metric (in millions) | Q2 2025 | Q2 2024 | YoY Change (%) | | :------------------------------------ | :------ | :------ | :------------- | | Third-Party Revenues | $28 | $25 | 12% | | Intra-Company Revenues | $34 | $33 | 3% | | Total Tower Revenues | $62 | $58 | 7% | | Total Operating Expenses | $41 | $39 | 5% | | Operating Income | $21 | $19 | 11% | | Adjusted OIBDA (Non-GAAP) | $34 | $31 | 9% | | Capital Expenditures | $3 | $5 | (51)% | [Non-GAAP Financial Measures](index=10&type=section&id=Non-GAAP%20Financial%20Measures) [Free Cash Flow](index=10&type=section&id=Free%20Cash%20Flow) Array's Free Cash Flow (Non-GAAP) significantly increased to **$239 million** in Q2 2025, up from **$165 million** in Q2 2024, primarily due to reduced additions to property, plant, and equipment, with a substantial increase also observed for the six months ended June 30, 2025 Free Cash Flow (Non-GAAP) (in millions) | Metric | Q2 2025 | Q2 2024 | YoY Change | | :------------------------------------ | :------ | :------ | :--------- | | Cash flows from operating activities (GAAP) | $325 | $313 | $12 | | Cash paid for additions to property, plant and equipment | ($75) | ($137) | $62 | | Cash paid for software license agreements | ($11) | ($11) | $0 | | Free Cash Flow (Non-GAAP) | $239 | $165 | $74 | - Free Cash Flow is a non-GAAP financial measure used to assess liquidity, representing net cash generated from operations after deducting cash paid for additions to property, plant, and equipment and software license agreements[29](index=29&type=chunk) [EBITDA, Adjusted EBITDA, and Adjusted OIBDA Reconciliations](index=10&type=section&id=EBITDA%2C%20Adjusted%20EBITDA%2C%20and%20Adjusted%20OIBDA%20Reconciliations) Array provides reconciliations for non-GAAP metrics such as EBITDA, Adjusted EBITDA, and Adjusted OIBDA, which management uses to assess profitability and operational performance by excluding significant non-cash expenses, non-recurring items, and investing activities - EBITDA, Adjusted EBITDA, and Adjusted OIBDA are non-GAAP financial measures used by management as indicators of profitability, providing additional relevant and useful information for evaluating operating efficiency and potential business trends by excluding significant non-cash expenses, non-recurring charges, gains or losses, and other items[30](index=30&type=chunk) Consolidated EBITDA, Adjusted EBITDA, and Adjusted OIBDA (Q2 2025 vs Q2 2024) | Metric (in millions) | Q2 2025 | Q2 2024 | YoY Change | | :------------------------------------ | :------ | :------ | :--------- | | Net Income (GAAP) | $32 | $18 | $14 | | Income Before Income Taxes (GAAP) | $36 | $32 | $4 | | EBITDA (Non-GAAP) | $244 | $242 | $2 | | Adjusted EBITDA (Non-GAAP) | $254 | $268 | ($14) | | Adjusted OIBDA (Non-GAAP) | $208 | $227 | ($19) | Segment Adjusted EBITDA and Adjusted OIBDA (Q2 2025 vs Q2 2024) | Segment (in millions) | Q2 2025 Adjusted EBITDA/OIBDA | Q2 2024 Adjusted EBITDA/OIBDA | YoY Change | | :-------------------- | :---------------------------- | :---------------------------- | :--------- | | Array Wireless | $174 | $196 | ($22) | | Array Towers | $34 | $31 | $3 |

Core Insights - Array Digital Infrastructure, Inc. reported total operating revenues of $916 million for Q2 2025, a decrease of 1% from $927 million in Q2 2024 [1][10] - Service revenues were $736 million, down from $743 million year-over-year [1][10] - Net income attributable to Array shareholders increased to $31 million, up 80% from $17 million in the same period last year, with diluted earnings per share rising to $0.36 from $0.20 [1][10][15] Financial Performance - Total operating revenues for the first half of 2025 were $1.807 billion, a decline of 4% compared to $1.877 billion in the first half of 2024 [15] - Operating income for Q2 2025 was $35 million, down 4% from $36 million in Q2 2024 [15] - Adjusted EBITDA for Q2 2025 was $254 million, a decrease of 6% from $268 million in Q2 2024 [21][25] Operational Highlights - The company completed the sale of its wireless operations and select spectrum assets to T-Mobile for $4.3 billion, which includes cash and assumed debt [10] - Array has 4,400 towers and a new Master License Agreement with T-Mobile, providing a stable revenue stream and growth opportunities [3][7] - Third-party tower revenues increased by 12% year-over-year [10] Future Transactions - Pending spectrum transactions with Verizon and AT&T are expected to close in the second half of 2025 and Q3 2026, respectively, subject to regulatory approvals [4][5][10] - The company is not providing financial guidance for 2025 [5] Shareholder Returns - A special dividend of $23.00 per share was declared, payable on August 19, 2025 [10]

Earnings Projections - Analysts project United States Cellular (USM) will announce quarterly earnings of $0.33 per share, reflecting a 65% increase year over year [1] - Revenues are expected to reach $904.19 million, a decline of 2.5% from the same quarter last year [1] - The consensus EPS estimate has remained unchanged over the past 30 days, indicating analysts' reassessment of projections [1] Revenue Estimates - 'Operating Revenues- Service' is estimated at $728.62 million, indicating a year-over-year change of -1.9% [4] - 'Net operating revenues- Service- Retail' is projected to be $650.86 million, reflecting a year-over-year change of -2.3% [4] - 'Operating Revenues- Equipment sales' is expected to reach $175.58 million, showing a year-over-year change of -4.6% [4] Customer Metrics - 'Net additions (losses) - Retail Connections - Prepaid' are expected to reach 4.00 million, up from 3.00 million a year ago [5] - 'Gross additions - Retail Connections - Postpaid' are projected at 101.81 million, down from 117.00 million in the same quarter last year [5] - 'Customers - Total (Total connections)' is likely to reach 4.39 million, compared to 4.47 million a year ago [6] Stock Performance - U.S. Cellular shares have recorded returns of +12.9% over the past month, compared to the Zacks S&P 500 composite's +0.5% change [6] - Based on its Zacks Rank 3 (Hold), USM is expected to perform in line with the overall market in the upcoming period [6]

Company Overview - Array Digital Infrastructure, Inc., formerly known as United States Cellular Corporation, has declared a special cash dividend of $23.00 per Common Share and Series A Common Share, payable on August 19, 2025, to shareholders of record on August 11, 2025 [1] - The company has recently completed the sale of its wireless operations to T-Mobile and has changed its name to Array Digital Infrastructure, Inc. [4] - Array is a leading owner and operator of shared wireless communications infrastructure in the United States, with over 4,400 cell towers facilitating the deployment of 5G and other wireless technologies [5] Dividend Details - The special dividend represents more than 25% of the current stock price, leading the NYSE to implement "due bills" for shares traded until the payment date [2] - The ex-dividend date is set for August 20, 2025, meaning stockholders who sell their shares on or before the payment date will not receive the special dividend [2] - Due bills are settled between brokers, and Array has no obligations regarding the amount or processing of the due bill [3] Ownership Structure - Array is approximately 81% owned by Telephone and Data Systems, Inc. [6]

Core Viewpoint - The successful divestiture of Array Digital Infrastructure's wireless operations and select spectrum assets to T-Mobile US, Inc. marks a significant milestone, providing substantial shareholder value and positioning the company for future growth [1][2]. Financial Summary - The total consideration for the divestiture was $4.3 billion, comprising $2.6 billion in cash and approximately $1.7 billion in debt assumed by T-Mobile [1]. - The amounts are subject to final adjustment approximately 180 days after the closing date [1]. Operational Changes - Array will retain approximately 4,400 owned towers, making it the fifth largest tower business in the United States [2]. - A 15-year Master License Agreement was established with T-Mobile, ensuring a long-term revenue stream from at least 2,015 incremental towers and extending leases on approximately 600 existing towers [6]. Future Plans - The company intends to opportunistically monetize its retained spectrum holdings not included in the sale to T-Mobile, with agreements already in place with Verizon, AT&T, and two other mobile network operators [3]. - An interim President and CEO, Douglas W. Chambers, has been appointed to lead the company following the transaction [6]. Corporate Identity - The company will change its ticker symbol on the NYSE to "AD" from "USM," with trading under the new name expected to commence on August 12, 2025 [6].

Group 1 - The article focuses on the ongoing analysis of United States Cellular Corporation (NYSE: USM) ahead of its Q2 2025 earnings release scheduled for August 11th [1] - The analysis is informed by the author's extensive finance experience across various industries, emphasizing the importance of cash flow for both companies and investors [1] - The investment approach seeks value opportunities where market reactions to news may be disproportionate, highlighting the significance of strong fundamentals and dividends [1] Group 2 - The article does not provide any specific financial data or performance metrics related to United States Cellular Corporation [1]

Company Overview - Telephone and Data Systems, Inc. (TDS) provides wireless, broadband, video, and voice services to approximately 5.5 million connections nationwide through its subsidiaries, UScellular and TDS Telecom [2] - TDS was founded in 1969 and is headquartered in Chicago, employing approximately 7,800 associates as of March 31, 2025 [2] Upcoming Financial Events - TDS and United States Cellular Corporation will webcast their second quarter operating results conference call on August 11, 2025, at 9:00 a.m. Central Time [1] - The companies will release their financial results on the same date, August 11, 2025 [1] - Interested parties can access the webcast through the events & presentations pages of their respective investor websites, with a recommendation to register at least 15 minutes prior to the presentation [1]

Core Viewpoint - United States Cellular Corporation (UScellular) plans to issue a special cash dividend of approximately $1.950 billion to $2.075 billion, contingent on the successful closing of its wireless operations sale to T-Mobile US, Inc. The expected dividend per share is between $22.50 and $23.75, pending board approval [1][2]. Financial Details - The gross purchase price for the sale is estimated at $4.4 billion, with adjustments leading to a net cash available for distribution of $1.950 billion to $2.075 billion after accounting for various financial obligations and adjustments [3]. - Specific deductions from the gross purchase price include a contingent purchase price adjustment of $90 million, repayment of term loans totaling $865 million, and a cash tax obligation of $275 million, among others [3]. Shareholder Impact - Telephone and Data Systems, Inc. (TDS), which will own approximately 81% of UScellular's equity post-transaction, will receive its proportional share of the special dividend [4]. Corporate Changes - Following the closing of the sale, UScellular intends to rebrand itself as Array Digital Infrastructure, Inc., with Doug Chambers appointed as interim CEO of the new entity [5]. Operational Context - UScellular currently serves 4.4 million retail connections across 21 states and had 4,100 employees as of March 31, 2025. The company is expected to have a significantly different operational profile after the sale of its wireless operations [6][7].

Core Points - United States Cellular Corporation (UScellular) announced the appointment of Doug Chambers as interim President and CEO of the post-closing entity, Array Digital Infrastructure, Inc. [1][2][7] - The sale of UScellular's wireless operations to T-Mobile US, Inc. is expected to close on August 1, 2025, subject to closing conditions [1][2] - The company will change its ticker symbol on the NYSE to "AD" from "USM" following the name change [3] - A special cash dividend in the range of $22.50 - $23.75 per Common Share and Series A Common Share is expected to be approved by the board after the sale closes [4] Company Developments - Doug Chambers has been with the TDS family of companies since 2007 and has served as Executive Vice President, CFO, and Treasurer of UScellular for the past six years [2] - The new company, Array Digital Infrastructure, Inc., will focus on overseeing operations related to its portfolio of 4,400 owned towers and retained wireless spectrum [1][2] - The headquarters of Array Digital Infrastructure, Inc. will remain in Chicago, IL [3] Financial Information - UScellular had approximately 4.4 million retail connections across 21 states as of March 31, 2025 [5] - Telephone and Data Systems, Inc. owned about 83 percent of UScellular at the end of the first quarter of 2025 [5]

Regulatory Approval - The Federal Communications Commission (FCC) cleared T-Mobile US Inc's acquisition of a significant portion of US Cellular Corp's wireless business [1] - The acquisition also includes some of US Cellular Corp's network infrastructure [1]