AT&T has reached an agreement to acquire substantially all of Lumen’s Mass Markets fiber business in an all-cash transaction valued at $5.75 billion, subject to purchase price adjustments. The deal is expected to significantly expand AT&T’s access to high-speed fiber internet across 11 U.S. states and create new jobs.
The acquired assets include around 1 million fiber subscribers and over 4 million fiber locations. Once the transition is complete, these customers will become part of AT&T Fiber, enjoying its premium home internet experience with simple pricing, multi-gig speeds, built-in security, dependability, and optimal in-home coverage.
AT&T expects to double its fiber customer base by 2030, reaching approximately 60 million total fiber locations. The company plans to accelerate its fiber build engine, using Lumen’s substantial construction capabilities within its incumbent local exchange carrier (ILEC) footprint.
The acquisition is part of AT&T’s efforts to provide more choice for American consumers when selecting broadband and wireless services. With the combined offer of 5G wireless and fiber broadband connectivity, customers are likely to recommend AT&T and remain loyal customers longer.
AT&T will hold the acquired fiber network assets in a new subsidiary, NetworkCo, and expects to engage an equity partner after closing the transaction with Lumen. The company remains committed to its long-term priorities and financial targets, including repurchasing shares under the previously announced $10 billion authorization.
Source: https://about.att.com/story/2025/lumen-mass-markets-fiber-business.html