Latest news with #AT&TFiber
Yahoo
3 days ago
- Business
- Yahoo
AT&T Fiber delivers high-speed internet to thousands of Door County homes
EGG HARBOR, Wis (WFRV) – Fast, reliable internet is finally reaching more rural homes in Door County. Governor Tony Evers joined AT&T executives and local government officials Thursday morning to celebrate the launch of a $24 million public-private fiber broadband project, which will eventually serve more than 5,400 addresses across four Door County communities. New partnership provides young northeastern Wisconsinites with theater training during summer The event took place at the Kress Pavilion in Egg Harbor, where AT&T technicians provided a fiber splicing demonstration and offered tours of the company's service trucks. The first homes in the Town of Egg Harbor are now eligible to order AT&T Fiber, with other areas expected to come online in phases. The expansion includes partnerships with the towns of Egg Harbor, Sevastopol, Sturgeon Bay, and the Village of Egg Harbor. A mix of funding from AT&T, local municipalities, and the Wisconsin Public Service Commission's Capital Projects Fund helped make the project possible. 'There are residents and businesses that didn't have access to high-speed fiber — and now they do,' said Robyn Gruner, AT&T's director of external affairs in Wisconsin. 'It's a critical piece of infrastructure, not just for streaming or working from home, but for healthcare, education, and staying connected.' Gruner said more than 350 homes are now eligible to sign up for service, and more than 50 orders have already come in. Governor Evers used the opportunity to highlight his administration's commitment to broadband access, pointing to $400 million in proposed broadband investments in his latest state budget. 'With uncertainty at the federal level, momentum is more important than ever that we continue to make this a statewide issue,' Evers said. 'We've already helped over 410,000 homes and businesses get access to new or improved broadband.' Wisconsin's budget talks stall, create possible ripple effect on 2026 gubernatorial race Local leaders say the upgrades are long overdue in an area where geography and low population density have long made internet access a challenge. The broader project is expected to roll out over the coming months, connecting thousands more Door County residents to high-speed fiber. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
23-05-2025
- Business
- Yahoo
AT&T to buy Lumen's consumer fibre business for $5.75bn
US telecom giant AT&T has agreed to purchase Lumen Technologies' consumer fibre business for $5.75bn in an all-cash deal. The transaction includes approximately one million fibre subscribers across more than four million fibre locations, which will transition to AT&T Fiber customers over time. The acquisition encompasses last-mile Mass Markets fibre assets and associated network elements in central offices. This will aid AT&T to deliver fibre services in areas, including Denver, Las Vegas, Minneapolis-St. Paul, Orlando, Phoenix, Portland, Salt Lake City, and Seattle, among others. Following the deal closing, AT&T will establish a new, wholly owned subsidiary, NetworkCo, to hold the acquired fibre network assets and certain fibre network deployment capabilities. Some Lumen employees are expected to transfer to AT&T or NetworkCo as part of the deal. Lumen's enterprise fibre customers and Mass Markets copper-based customers, along with their supporting assets, are excluded from the agreement. Post-closing, Lumen will provide AT&T with transitional services, including field operations, network deployment, IT systems, billing, and customer support, for approximately two years. AT&T will also gain long-term access to certain Lumen central offices, poles, and conduits. The transaction is expected to close in the first half of 2026, pending regulatory approval from the US Department of Justice and other customary conditions. AT&T chairman and CEO John Stankey said: 'We're leading the race to connect more Americans with fibre, the best broadband connectivity technology available. 'This deal with Lumen represents a significant investment in US connectivity infrastructure that will create jobs and spur economic activity in numerous regions and major metro areas across 11 states. As we advance our fibre build, we'll serve more communities with world-class connectivity and expect to roughly double where AT&T Fiber is available by the end of 2030.' In November 2024, Lumen Technologies entered into a partnership with Google Cloud to accelerate its digital transformation and foster AI innovation. "AT&T to buy Lumen's consumer fibre business for $5.75bn" was originally created and published by Verdict, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
21-05-2025
- Business
- Yahoo
AT&T Buys Lumen's Consumer Fiber Business for $5.75 Billion
(Bloomberg) — AT&T Inc. agreed to buy the consumer fiber operations of Lumen Technologies Inc. for $5.75 billion, expanding its fast broadband service in major cities like Denver and Las Vegas. Can Frank Gehry's 'Grand LA' Make Downtown Feel Like a Neighborhood? Chicago's O'Hare Airport Seeks Up to $4.3 Billion of Muni Debt NJ Transit Makes Deal With Engineers, Ending Three-Day Strike AT&T will pay cash for the unit of Lumen, according to a statement Wednesday. Talks between the companies were reported earlier by Bloomberg News. The sale is subject to regulatory approval and is expected to close in the first half of next year. The deal helps AT&T increase its long-term goal of putting its fiber-optic lines within reach of more homes and businesses. The Dallas-based wireless and broadband company now says it aims to reach 60 million locations by 2030, about double where AT&T Fiber is available today. Lumen had said earlier that the consumer fiber business didn't fit with its focus on serving enterprise customers. Lumen has 1 million fiber customers and reaches more than 4 million locations across 11 US states, AT&T said. As part of the transaction, AT&T will form a new subsidiary that will hold the acquired assets. After closing, AT&T plans to sell partial ownership of the subsidiary to an equity partner that will co-invest in the business. AT&T expects to identify the partner and close a deal within about six to 12 months of completing the transaction with Lumen. AT&T said the structure will help support the expansion of AT&T Fiber outside of the phone giant's traditional landline operations. The company also reiterated its 2025 financial guidance. In 2022, AT&T announced a similar partnership with BlackRock Inc. called Gigapower LLC. Lumen advanced as much as 25% to $4.77 in extended trading. AT&T was little changed. Fiber and telecommunications have become a hotbed of dealmaking. Earlier this month, the US Federal Communications Commission approved the sale of Frontier Communications to Verizon Communications Inc. Frontier had billed itself as the 'largest pure-play fiber internet company in the US.' On May 16, Charter Communications Inc. agreed to combine with closely held Cox Communications in a $34.5 billion cash-and-stock deal that would unite two of the biggest US cable providers. The combined company would be the top broadband operator in the US, and increase Charter's subscriber base by more than 20%, Bloomberg Intelligence analyst Geetha Ranganathan said at the time. (Updates terms starting in fifth paragraph.) Why Apple Still Hasn't Cracked AI Inside the First Stargate AI Data Center Anthropic Is Trying to Win the AI Race Without Losing Its Soul Microsoft's CEO on How AI Will Remake Every Company, Including His Cartoon Network's Last Gasp ©2025 Bloomberg L.P.
Yahoo
21-05-2025
- Business
- Yahoo
AT&T to Acquire Lumen's Mass Markets Fiber Business
AT&T agrees to acquire substantially all of Lumen's Mass Markets fiber internet connectivity business in a deal that's expected to close in the first half of 2026 Transaction to stimulate investment, expand world-class connectivity in the U.S., create new jobs and make high-speed fiber internet access available to millions of Americans AT&T will extend its industry-leading fiber network with plans to reach approximately 60 million total fiber locations by year-end 20301 DALLAS, May 21, 2025 /PRNewswire/ -- Key Takeaways: AT&T will acquire substantially all of Lumen's Mass Markets fiber business, which today totals about 1 million fiber customers and reaches more than 4 million fiber locations across 11 U.S. states. AT&T reiterates full-year 2025 financial and operational guidance and share repurchase plans. Note: For more transaction details, management and investor relations comments are available HERE, along with AT&T's 8-K. AT&T (NYSE: T) (the Company) has reached an agreement to acquire substantially all of Lumen's (NYSE: LUMN) Mass Markets fiber business for $5.75 billion, subject to purchase price adjustments, in an all-cash transaction that will expand investment in critical U.S. connectivity infrastructure, create new middle-class jobs, and accelerate high-speed fiber internet access to millions of Americans. "We're leading the race to connect more Americans with fiber, the best broadband connectivity technology available," said John Stankey, Chairman and CEO, AT&T. "This deal with Lumen represents a significant investment in U.S. connectivity infrastructure that will create jobs and spur economic activity in numerous regions and major metro areas across 11 states. As we advance our fiber build, we'll serve more communities with world-class connectivity and expect to roughly double where AT&T Fiber is available by the end of 2030." The Lumen Mass Markets fiber assets included in the deal today total about 1 million fiber subscribers across more than 4 million fiber locations. Over time, these subscribers will transition to be AT&T Fiber customers and enjoy the many benefits of being connected by America's fastest-growing fiber provider.2 Customers with AT&T Fiber today enjoy every day, simple pricing and a premier home internet experience – delivering unmatched value and service. AT&T Fiber is backed by the AT&T Guarantee and offers multi-gig speeds3, built-in security, dependability and optimal in-home coverage. Serving more Americans with the best connectivity experience The transaction will enable AT&T to significantly expand access to AT&T Fiber in major metro areas like Denver, Las Vegas, Minneapolis-St. Paul, Orlando, Phoenix, Portland, Salt Lake City and Seattle, as well as additional geographies. AT&T expects this transaction to deliver significant value to consumers, shareholders and the Company. Highlights include: Expanding the availability of AT&T Fiber. AT&T expects to significantly grow the number of AT&T Fiber customers within the acquired fiber footprint, using its extensive distribution, the strengths of AT&T Fiber, and the value of the AT&T Guarantee. Over time, AT&T expects to increase fiber customer penetration within the acquired footprint to levels more consistent with its current penetration of AT&T Fiber. Accelerating an efficient build engine for constructing fiber home internet connectivity outside of AT&T's traditional wireline operating region. Through this transaction, AT&T will gain access to Lumen's substantial fiber construction capabilities within its incumbent local exchange carrier (ILEC) footprint and plans to accelerate the pace at which fiber is being built in these territories. AT&T now expects to reach approximately 60 million total fiber locations by the end of 2030 – roughly doubling where AT&T Fiber is available today. Giving American consumers more choice when selecting broadband and wireless services the way they prefer – with fiber and 5G together. Customers with both AT&T Fiber and the Company's wireless services are more likely to recommend AT&T, remain customers longer and provide the best returns. AT&T expects that its ability to offer 5G wireless and fiber broadband connectivity within Lumen's Mass Markets fiber footprint will enable the Company to grow its base of high-value converged customer relationships and drive gains in its Mobility business. Transaction details and ongoing agreements with Lumen The acquired portion of the Lumen Mass Markets business includes last-mile Mass Markets fiber assets and the associated network elements in central offices that enable fiber services, as well as substantially all of Lumen's Mass Markets fiber customers. This will position AT&T to deliver a consistent experience to AT&T Fiber customers within Lumen's Mass Markets footprint over time. AT&T will hold the acquired fiber network assets, including certain fiber network deployment capabilities, in a new, fully owned subsidiary ("NetworkCo"). It is expected that along with the fiber assets, certain employees will move, or receive offers to move, from Lumen to AT&T or NetworkCo as a part of this deal. Lumen's enterprise fiber customers and Mass Markets copper-based customers as well as the associated assets to support them are not part of this agreement. After closing, Lumen will provide AT&T with services and support under multiple transitional agreements. These agreements are expected to last approximately two years after deal close and will cover certain field operations, network deployment, IT systems, billing, customer support, and other services. As part of the transaction, AT&T will also receive long-term access to certain Lumen central offices, poles, and conduits. The transaction is expected to close in the first half of 2026 and is subject to regulatory approval by the Department of Justice as well as other customary closing conditions. AT&T plans to engage an equity partner after closing Lumen transaction After closing the transaction with Lumen, the Company plans to sell partial ownership of NetworkCo to an equity partner that will co-invest in the ongoing business. AT&T expects to identify an equity partner and close a transaction within approximately 6-12 months of closing the transaction with Lumen. Upon closing a transaction with an equity partner, the Company expects NetworkCo will be deconsolidated from AT&T's financial statements and operate as a wholesale commercial open access platform, providing fiber access services to AT&T as the anchor tenant. All acquired Lumen Mass Markets fiber customers will remain AT&T customers. AT&T believes this planned structure is consistent with its balanced approach to capital allocation – supporting the accelerated and capital-efficient expansion of AT&T Fiber outside of its traditional wireline operating region. Based on AT&T's position as the operator of the largest and fastest-growing fiber broadband network in the U.S. and track record of generating attractive returns on its fiber investments, the Company is highly confident it can secure an equity partner for NetworkCo. AT&T remains committed to long-term priorities, financial targets and capital returns plans This transaction aligns with the priorities outlined at AT&T's 2024 Analyst & Investor Day, including its goal of becoming the best connectivity provider in America while providing more value to customers, shareholders and the Company. These priorities have not changed, and AT&T continues to operate the business to achieve the financial plan and capital returns outlined in December 2024. The Company expects that this transaction will drive returns that are comparable to AT&T's current fiber investments, as outlined at its 2024 Analyst & Investor Day. In the 12-24 months following close, the impact of the transaction is expected to be immaterial to consolidated adjusted EBITDA, adjusted EPS and free cash flow, and accretive over the long-term. AT&T expects to continue operating within its net leverage target of net debt-to-adjusted EBITDA in the 2.5x range following the transaction with Lumen and anticipated transaction with an equity partner for NetworkCo. The Company remains committed to repurchasing shares under the previously announced $10 billion authorization, with plans to repurchase at least $3 billion of common stock by year-end and the remainder during 2026. AT&T reiterates all full-year 2025 financial and operational guidance. To automatically receive AT&T financial news by email, please subscribe to email alerts. 1 "Total locations" includes consumer and business locations (i) passed with fiber and (ii) served with fiber through commercial open-access providers. 2 Based on the number of fiber to the home households using publicly available data. 3 Limited availability in select areas. Speeds based on wired connection. Actual speeds may vary. Single device wired speed maximum 4.7Gbps. For more info, go to Cautionary Language Concerning Forward-Looking Statements Information set forth in this news release contains financial estimates and other forward-looking statements that are subject to risks and uncertainties, and actual results might differ materially. A discussion of factors that may affect future results is contained in AT&T's filings with the Securities and Exchange Commission. AT&T disclaims any obligation to update and revise statements contained in this news release based on new information or otherwise. Adjusted EBITDA, adjusted EPS, free cash flow and net debt-to-adjusted EBITDA estimates depend on future levels of revenues, expenses, cash from operating activities, capital expenditures, vendor financing payments and other metrics which are not reasonably estimable at this time. Accordingly, we cannot provide reconciliations between these projected non-GAAP metrics and the most comparable GAAP metrics and related ratios without unreasonable effort. About AT&TWe help more than 100 million U.S. families, friends and neighbors, plus nearly 2.5 million businesses, connect to greater possibility. From the first phone call 140+ years ago to our 5G wireless and multi-gig internet offerings today, we @ATT innovate to improve lives. For more information about AT&T Inc. (NYSE:T), please visit us at Investors can learn more at * Further clarification and explanation of non-GAAP measures and reconciliations to their most comparable GAAP measures can be found in the "Non-GAAP Measures and Reconciliations to GAAP Measures" section of the release and at © 2025 AT&T Intellectual Property. All rights reserved. AT&T and the Globe logo are registered trademarks of AT&T Intellectual Property. View original content to download multimedia: SOURCE AT&T Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Cision Canada
21-05-2025
- Business
- Cision Canada
AT&T to Acquire Lumen's Mass Markets Fiber Business
AT&T agrees to acquire substantially all of Lumen's Mass Markets fiber internet connectivity business in a deal that's expected to close in the first half of 2026 Transaction to stimulate investment, expand world-class connectivity in the U.S., create new jobs and make high-speed fiber internet access available to millions of Americans AT&T will extend its industry-leading fiber network with plans to reach approximately 60 million total fiber locations by year-end 2030 1 DALLAS, May 21, 2025 /CNW/ -- Key Takeaways: AT&T will acquire substantially all of Lumen's Mass Markets fiber business, which today totals about 1 million fiber customers and reaches more than 4 million fiber locations across 11 U.S. states. AT&T reiterates full-year 2025 financial and operational guidance and share repurchase plans. Note: For more transaction details, management and investor relations comments are available HERE, along with AT&T's 8-K. AT&T (NYSE: T) (the Company) has reached an agreement to acquire substantially all of Lumen's (NYSE: LUMN) Mass Markets fiber business for $5.75 billion, subject to purchase price adjustments, in an all-cash transaction that will expand investment in critical U.S. connectivity infrastructure, create new middle-class jobs, and accelerate high-speed fiber internet access to millions of Americans. "We're leading the race to connect more Americans with fiber, the best broadband connectivity technology available," said John Stankey, Chairman and CEO, AT&T. "This deal with Lumen represents a significant investment in U.S. connectivity infrastructure that will create jobs and spur economic activity in numerous regions and major metro areas across 11 states. As we advance our fiber build, we'll serve more communities with world-class connectivity and expect to roughly double where AT&T Fiber is available by the end of 2030." The Lumen Mass Markets fiber assets included in the deal today total about 1 million fiber subscribers across more than 4 million fiber locations. Over time, these subscribers will transition to be AT&T Fiber customers and enjoy the many benefits of being connected by America's fastest-growing fiber provider. 2 Customers with AT&T Fiber today enjoy every day, simple pricing and a premier home internet experience – delivering unmatched value and service. AT&T Fiber is backed by the AT&T Guarantee and offers multi-gig speeds 3, built-in security, dependability and optimal in-home coverage. Serving more Americans with the best connectivity experience The transaction will enable AT&T to significantly expand access to AT&T Fiber in major metro areas like Denver, Las Vegas, Minneapolis-St. Paul, Orlando, Phoenix, Portland, Salt Lake City and Seattle, as well as additional geographies. AT&T expects this transaction to deliver significant value to consumers, shareholders and the Company. Highlights include: Expanding the availability of AT&T Fiber. AT&T expects to significantly grow the number of AT&T Fiber customers within the acquired fiber footprint, using its extensive distribution, the strengths of AT&T Fiber, and the value of the AT&T Guarantee. Over time, AT&T expects to increase fiber customer penetration within the acquired footprint to levels more consistent with its current penetration of AT&T Fiber. Accelerating an efficient build engine for constructing fiber home internet connectivity outside of AT&T's traditional wireline operating region. Through this transaction, AT&T will gain access to Lumen's substantial fiber construction capabilities within its incumbent local exchange carrier (ILEC) footprint and plans to accelerate the pace at which fiber is being built in these territories. AT&T now expects to reach approximately 60 million total fiber locations by the end of 2030 – roughly doubling where AT&T Fiber is available today. Giving American consumers more choice when selecting broadband and wireless services the way they prefer – with fiber and 5G together. Customers with both AT&T Fiber and the Company's wireless services are more likely to recommend AT&T, remain customers longer and provide the best returns. AT&T expects that its ability to offer 5G wireless and fiber broadband connectivity within Lumen's Mass Markets fiber footprint will enable the Company to grow its base of high-value converged customer relationships and drive gains in its Mobility business. Transaction details and ongoing agreements with Lumen The acquired portion of the Lumen Mass Markets business includes last-mile Mass Markets fiber assets and the associated network elements in central offices that enable fiber services, as well as substantially all of Lumen's Mass Markets fiber customers. This will position AT&T to deliver a consistent experience to AT&T Fiber customers within Lumen's Mass Markets footprint over time. AT&T will hold the acquired fiber network assets, including certain fiber network deployment capabilities, in a new, fully owned subsidiary ("NetworkCo"). It is expected that along with the fiber assets, certain employees will move, or receive offers to move, from Lumen to AT&T or NetworkCo as a part of this deal. Lumen's enterprise fiber customers and Mass Markets copper-based customers as well as the associated assets to support them are not part of this agreement. After closing, Lumen will provide AT&T with services and support under multiple transitional agreements. These agreements are expected to last approximately two years after deal close and will cover certain field operations, network deployment, IT systems, billing, customer support, and other services. As part of the transaction, AT&T will also receive long-term access to certain Lumen central offices, poles, and conduits. The transaction is expected to close in the first half of 2026 and is subject to regulatory approval by the Department of Justice as well as other customary closing conditions. AT&T plans to engage an equity partner after closing Lumen transaction After closing the transaction with Lumen, the Company plans to sell partial ownership of NetworkCo to an equity partner that will co-invest in the ongoing business. AT&T expects to identify an equity partner and close a transaction within approximately 6-12 months of closing the transaction with Lumen. Upon closing a transaction with an equity partner, the Company expects NetworkCo will be deconsolidated from AT&T's financial statements and operate as a wholesale commercial open access platform, providing fiber access services to AT&T as the anchor tenant. All acquired Lumen Mass Markets fiber customers will remain AT&T customers. AT&T believes this planned structure is consistent with its balanced approach to capital allocation – supporting the accelerated and capital-efficient expansion of AT&T Fiber outside of its traditional wireline operating region. Based on AT&T's position as the operator of the largest and fastest-growing fiber broadband network in the U.S. and track record of generating attractive returns on its fiber investments, the Company is highly confident it can secure an equity partner for NetworkCo. AT&T remains committed to long-term priorities, financial targets and capital returns plans This transaction aligns with the priorities outlined at AT&T's 2024 Analyst & Investor Day, including its goal of becoming the best connectivity provider in America while providing more value to customers, shareholders and the Company. These priorities have not changed, and AT&T continues to operate the business to achieve the financial plan and capital returns outlined in December 2024. The Company expects that this transaction will drive returns that are comparable to AT&T's current fiber investments, as outlined at its 2024 Analyst & Investor Day. In the 12-24 months following close, the impact of the transaction is expected to be immaterial to consolidated adjusted EBITDA, adjusted EPS and free cash flow, and accretive over the long-term. AT&T expects to continue operating within its net leverage target of net debt-to-adjusted EBITDA in the 2.5x range following the transaction with Lumen and anticipated transaction with an equity partner for NetworkCo. The Company remains committed to repurchasing shares under the previously announced $10 billion authorization, with plans to repurchase at least $3 billion of common stock by year-end and the remainder during 2026. AT&T reiterates all full-year 2025 financial and operational guidance. To automatically receive AT&T financial news by email, please subscribe to email alerts. Cautionary Language Concerning Forward-Looking Statements Information set forth in this news release contains financial estimates and other forward-looking statements that are subject to risks and uncertainties, and actual results might differ materially. A discussion of factors that may affect future results is contained in AT&T's filings with the Securities and Exchange Commission. AT&T disclaims any obligation to update and revise statements contained in this news release based on new information or otherwise. Adjusted EBITDA, adjusted EPS, free cash flow and net debt-to-adjusted EBITDA estimates depend on future levels of revenues, expenses, cash from operating activities, capital expenditures, vendor financing payments and other metrics which are not reasonably estimable at this time. Accordingly, we cannot provide reconciliations between these projected non-GAAP metrics and the most comparable GAAP metrics and related ratios without unreasonable effort. About AT&T We help more than 100 million U.S. families, friends and neighbors, plus nearly 2.5 million businesses, connect to greater possibility. From the first phone call 140+ years ago to our 5G wireless and multi-gig internet offerings today, we @ATT innovate to improve lives. For more information about AT&T Inc. (NYSE:T), please visit us at Investors can learn more at
