Array Digital Infrastructure – formerly known as UScellular – completed a $1.08 billion sale of spectrum to AT&T.

The sale, first announced in November 2024, was finalized earlier this week.

Approval of the deal follows the Federal Communications Commission (FCC) giving its blessing to the deal last month after AT&T agreed to ditch its diversity, equity, and inclusion (DEI)-related policies.

As part of the agreement, AT&T snapped up spectrum in the 700 MHz and 3.45 GHz bands. The FCC in approving the deal said that it will enable AT&T to enhance its network coverage, capacity, and performance.

Array noted that following the close of the sale, its board of directors has declared a special cash dividend of $10.25 per common share and Series A common share. The special dividend is payable on February 2, to shareholders of record on January 23.

"We are pleased with the significant value realized in this sale," Array CEO Anthony Carlson noted in a statement. "And we are continuing to return value to our shareholders in the form of a special dividend."

UScellular was previously a regional wireless player, but sold its wireless operations, which included the company's 4.5 million customers, to T-Mobile US for $4.4 billion in August.

As part of that deal, T-Mobile US acquired UScellular's operations, including its customer base and around 30% of the company's wireless spectrum. UScellular separately struck a spectrum sale deal with Verizon for $1 billion.

UScellular has pivoted from its T-Mobile US sale to become a tower infrastructure-focused business.