Key Developments: United States Cellular Corp (USM.N)
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Latest Key Developments (Source: Significant Developments)
T-Mobile US Inc Agrees To Acquire AWS Spectrum In Mississippi Valley Region From United States Cellular Corp
T-Mobile US Inc announced that its wholly owned subsidiary has signed an agreement to purchase 10 MHz of Advanced Wireless Services (AWS) spectrum from United States Cellular for $308 million in cash. The spectrum covers a total of 32M people in 29 markets in the Mississippi Valley region - notably in St. Louis; Nashville; Kansas City; Memphis; Lexington; Little Rock-North Little Rock; Birmingham; New Orleans; and Louisville. This additional spectrum will allow for an incremental roll-out of T-Mobile's 4G LTE network coverage to new markets and expands the existing 4G LTE bandwidth in the important Mississippi Valley region. The agreement is subject to approval by the Federal Communications Commission (FCC) and Department of Justice, and other customary closing conditions. Following regulatory approval, the transaction is expected to close in the fourth quarter of 2013. Full Article
United States Cellular Corp Announces CEO Appointment
United States Cellular Corp announced that its board of directors has appointed Kenneth R. Meyers President and Chief Executive Officer (CEO), effective June 22, 2013. Full Article
Sprint Nextel Corp Closes Transaction To Acquire United States Cellular Corp And Customers In The Midwest
Sprint Nextel Corp announced that it has completed its transaction with United States Cellular Corp to acquire 20MHz of PCS spectrum in various Midwest markets including Chicago, South Bend, Ind., and Champaign, Ill., and 10MHz of PCS spectrum in the St. Louis market. The additional spectrum will significantly increase Sprint`s network capacity and further improve the customer experience in these markets. In addition, the transaction includes approximately 420,000 U.S. Cellular customers. Full Article
United States Cellular Corp Declares Special Cash Dividend Of $5.75 Per Share
United States Cellular Corp announced that it has declared a special cash dividend of $5.75 per Common Share and Series A Common Share, for an aggregate amount of approximately $481 million. Payment will be made on June 25, 2013, to shareholders of record as of June 11, 2013. Full Article
United States Cellular Corp Narrows FY 2012 Revenue Guidance; Updates FY 2012 OIBDA Guidance
United States Cellular Corp announced that for fiscal 2012, it expects service revenues to be in the range of $4.075-$4.125 billion compared to prior range of $4.050-$4.150 billion and adjusted OIBDA in the range of $800-$850 million compared to prior range of $800-$900 million. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $4.42 billion and EBITDA of $855 million for fiscal 2012. Full Article
United States Cellular Corp To Sell Select Midwest Markets To Sprint Nextel Corp
United States Cellular Corp announced that it has reached a definitive agreement to sell its Chicago, St. Louis, central Illinois and three other Midwest markets (the Transaction Markets) to subsidiaries of Sprint Nextel Corporation for $480 million. The sale includes PCS spectrum and approximately 585,000 customers, or about 10% of U.S. Cellular's total customer base. The Company also announced that it will transition its Bolingbrook Customer Care Center operations to an existing vendor partner, effective Jan. 1, 2013. Full Article
U.S. Cellular Reaffirms FY 2012 Guidance
U.S. Cellular reaffirmed its guidance for fiscal 2012 and expects service revenues to be in the range of $4.05-$4.15 billion, adjusted OIBDA to be in the range of $800-$900 million and operating income (EBIT) to be in the range of $200-$300 million. According to I/B/E/S Estimates, analysts are expecting the Company to report EBIT of $270 million for fiscal 2012. Full Article
U.S. Cellular Reaffirms FY 2012 Guidance
U.S. Cellular reaffirmed its guidance for fiscal 2012 and expects service revenues to be in the range of $4.05-$4.15 billion, adjusted OIBDA to be in the range of $800-$900 million and operating income (EBIT) to be in the range of $200-$300 million. According to I/B/E/S Estimates, analysts are expecting the Company to report EBIT of $267 million for fiscal 2012. Full Article
U.S. Cellular Issues FY 2012 Guidance
U.S. Cellular announced that for fiscal 2012, it expects service revenues to be in the range of $4.05-$4.15 billion, adjusted OIBDA to be in the range of $800-$900 million and operating income (EBIT) to be in the range of $200-$300 million. According to I/B/E/S Estimates, analysts were expecting the Company to report EBIT of $260 million for fiscal 2012. Full Article
U.S. Cellular Reaffirms FY 2011 Revenue Guidance; Raises FY 2011 Earnings Guidance
U.S. Cellular announced that for fiscal 2011, it continues to expects service revenues to be in the range of $4.0-$4.1 billion, adjusted OIBDA to be in the range of $820-$895 million compared to prior range of $800-$875 million and operating income (EBIT) to be in the range of $230-$305 million from prior range of $$210-$285. According to I/B/E/S Estimates, analysts were expecting the Company to report EBIT of $255 million for fiscal 2011. Full Article
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