UScellular Completes Sale of Wireless Operations

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].