Welcome to our dedicated page for United States news (Ticker: USM), a resource for investors and traders seeking the latest updates and insights on United States stock.
Array Digital Infrastructure, Inc. (NYSE: USM), formerly United States Cellular Corporation, generates news that reflects its transformation from a wireless carrier into a tower- and infrastructure-focused company. This news page aggregates press releases and media coverage related to the company’s operating results, strategic transactions, and corporate actions under both the UScellular and Array names.
Readers can find updates on quarterly financial results, where the company reports operating revenues, service revenues, equipment sales, operating income, and cash flows. These releases often include detailed operating metrics such as postpaid and prepaid connections, average revenue per user (ARPU), average revenue per account (ARPA), churn rates, handset upgrade rates, and tower-related statistics like the number of owned towers, colocations, and tower tenancy rates.
The news flow also covers major corporate events, including the sale of UScellular’s wireless operations and select spectrum assets to T-Mobile US, Inc., the subsequent name change to Array Digital Infrastructure, Inc., and the company’s agreements to sell additional spectrum licenses to Verizon, AT&T subsidiaries, and other mobile network operators. Announcements about special cash dividends, expected dividend ranges, and the mechanics of due bills and ex-dividend dates provide insight into how transaction proceeds and excess cash are distributed to shareholders.
In addition, this page includes notices about regulatory milestones, such as approvals from the Federal Communications Commission and updates from the U.S. Department of Justice Antitrust Division related to the T-Mobile transaction. Investors can also review information about planned conference calls, webcasts for quarterly results, leadership changes, and the planned change of the company’s ticker symbol. For anyone tracking USM, this news archive offers a consolidated view of the company’s evolution and ongoing activities.
Ericsson (NASDAQ: ERIC) and UScellular (NYSE: USM) are collaborating to enhance 5G transport infrastructure in rural America. The partnership leverages Ericsson's Router 6000 portfolio, including the new Router 6671, to improve high-speed internet access and support mid-band spectrum deployment. UScellular is the first customer globally to deploy Router 6671, showcased at MWC 2024.
This initiative aims to close the digital divide by providing reliable backhaul, site deployment flexibility, and advanced synchronization for superior RAN performance. The collaboration is expected to boost local economies and enable modern digital services such as precision agriculture, smart farms, remote education, and telemedicine in rural communities.
UScellular (NYSE:USM) reported Q2 2024 results with total operating revenues of $927 million, down from $957 million in Q2 2023. Service revenues decreased to $743 million from $760 million year-over-year. Net income attributable to shareholders improved to $17 million ($0.20 per diluted share) compared to $5 million ($0.05 per share) in Q2 2023.
Key highlights include:
- Announced sale of wireless operations and select spectrum assets to T-Mobile
- Postpaid ARPU grew 2%, while service revenues decreased 2%
- Fixed wireless customers grew 40% to 134,000
- Strong cost management led to increased operating income, net income, and Adjusted OIBDA
UScellular reaffirmed its 2024 guidance, projecting service revenues of $2,950-$3,050 million and Adjusted OIBDA of $750-$850 million.
Telephone and Data Systems, Inc. (NYSE: TDS) and United States Cellular (NYSE: USM) have announced their upcoming second quarter operating results conference call, scheduled for August 2, 2024, at 9:00 a.m. Central Time. The companies will release their financial results before the market opens on the same day. Investors can access the webcast through the events & presentations pages on the respective company websites. TDS, founded in 1969 and headquartered in Chicago, provides wireless, broadband, video, voice, and IT services to approximately 6 million connections nationwide through its subsidiaries UScellular, TDS Telecom, and OneNeck IT Solutions. As of March 31, 2024, TDS employed about 8,600 associates.
T-Mobile (NASDAQ: TMUS) announced its acquisition of UScellular’s wireless operations, including customers, stores, and certain spectrum assets. This move aims to enhance T-Mobile’s 5G network, especially in rural areas, offering improved connectivity and value-packed plans. The transaction, valued at approximately $4.4 billion, comprises cash and up to $2 billion of debt assumption. T-Mobile expects around $1 billion in annual cost synergies post-integration, with completion anticipated by mid-2025. The acquisition promises to spur competition, improve customer experiences, and expand T-Mobile's market reach.
Telephone and Data Systems (NYSE: TDS) announced its board approved the sale of UScellular's wireless operations and 30% of its spectrum assets to T-Mobile for $4.4 billion, including cash and assumed debt. This decision follows a strategic review started in August 2023 and aims to provide significant value to UScellular customers and shareholders. TDS will receive proceeds proportionate to its ownership and plans to invest in fiber infrastructure and reduce leverage. Additionally, TDS announced dividends for Q2 2024. The transaction requires regulatory approval and is expected to close in mid-2025.
UScellular will retain 70% of its spectrum assets and continue to generate revenue from its tower business with T-Mobile as a key tenant. TDS is adjusting its capital allocation strategy to support fiber expansion.
UScellular and TDS have agreed to sell UScellular's wireless operations and select spectrum assets to T-Mobile for $4.4 billion, consisting of cash and assumed debt. The transaction includes 30% of spectrum assets and a new Master License Agreement (MLA) for over 2,000 towers. UScellular retains its 4,400 towers and 70% of its spectrum assets. The deal aims to enhance service for UScellular customers with T-Mobile's resources, including better prices and network improvements. The transaction, approved by both companies' boards, is expected to close by mid-2025, pending regulatory approvals.
Telephone and Data Systems, Inc. (TDS) and United States Cellular (USM) will be webcasting their Annual Meetings of Shareholders in May 2024. UScellular's meeting is on May 21 at 8:30 a.m. Central time, and TDS' meeting is on May 22 at 9:00 a.m. Central time. Investors can access the webcasts on the Events & Presentations pages of investors.tdsinc.com or investors.uscellular.com. Registration is recommended at least 15 minutes before each meeting.
UScellular reported total operating revenues of $950 million for the first quarter of 2024, with service revenues at $754 million. Net income and diluted earnings per share increased to $18 million and $0.20, respectively. Postpaid ARPU grew 3%, while the postpaid churn rate reduced by 4%. Fixed wireless customers grew by 42% to 124,000. The company reaffirmed its 2024 guidance with unchanged estimates for service revenues, Adjusted OIBDA, Adjusted EBITDA, and capital expenditures. UScellular continues to explore strategic alternatives. The company's financial results showed positive improvements in key areas and ongoing growth.
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