UScellular to Sell Certain Spectrum Licenses to Verizon in $1 Billion Deal

UScellular is selling a portion of its spectrum licenses to Verizon for $1 billion as it looks to monetize the spectrum that wasn’t included in the proposed sale to T-Mobile. The deal includes the sale of 663 million megahertz point-of-presences of its cellular spectrum licenses. A point-of-presence refers to a physical location which connects users to the internet. Under the terms of the agreement, UScellular will also sell 11 million megahertz point-of-presences of its advanced wireless services, and 19 million megahertz point-of-presences of its personal communications services licenses. Each transaction is dependent upon the closing of the proposed sale of the company’s cellular wireless operations and select spectrum assets to T-Mobile.