Lumen is selling its CBRS spectrum

Amid a raging debate over the value of the 3.5GHz CBRS band, Lumen Technologies has apparently decided it's no longer interested in holding those spectrum licenses. In a new filing with the Federal Communications Commission, Lumen disclosed it is selling all of the spectrum it bought during the FCC's CBRS auction in 2020 to Citizens Band License Company (CBLC). CBLC appears to be backed by two executives—Jonathan Foxman and Daniel Hopkins—who are tied to Cellular One, a longtime player in the sagging market for regional wireless services. Lumen purchased the 265 CBRS spectrum licenses during the FCC's 2020 auction for around $9.1 million. Cellular One, meanwhile, spent around $200,000 in that auction. Lumen and CBLC did not provide the financial terms of their deal in their new FCC filing.