U.S. Cellular advances 5G strategy with purchases of millimeter wave spectrum
United States Cellular Corporation (USM)
Last united states cellular corporation earnings: 4/30 04:05 pm
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Source: PR Newswire
CHICAGO, June 18, 2019 /PRNewswire/ -- United States Cellular Corporation (NYSE:USM) successfully bid for high frequency spectrum in recent Federal Communications Commission (FCC) Millimeter Wave Spectrum Auctions and purchased licenses covering 98 percent of its subscribers for $256.0 million or 1.7 cents per MHz pop. In the 28 GHz Auction (Auction 101), the company spent $129.4 million or 2.1 cents per MHz pop acquiring 408 licenses covering 60 percent of its subscriber base with at least 425 MHz of millimeter wave spectrum. In the 24 GHz Auction (Auction 102), the company spent $126.6 million or 1.5 cents per MHz pop acquiring 282 licenses covering 93 percent of its subscribers. Together the auctions allowed U.S. Cellular to acquire at least 300 MHz of spectrum in markets that serve 97 percent of its customer base."Our 5G network strategy envisions the use of a variety of spectrum bands over time," said Kenneth R. Meyers, U.S. Cellular president and CEO. "Our initial 5G deployme
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- 5/3/24 - Form 8-K
- 4/9/24 - Form ARS
- USM's page on the SEC website