BELLEVUE, Wash.--(BUSINESS WIRE)--Un-carrier™ customers who live, work or play in and around Chicago are in for an upgrade. T-Mobile (NASDAQ: TMUS) today announced it has reached an agreement to acquire spectrum to deliver T-Mobile Extended Range LTE coverage to 10.9 million people throughout the Chicago metro area. Upon closing of the spectrum deal, T-Mobile will have 700MHz A-block spectrum that covers all of the top 10 US markets and is capable of covering 269 million Americans – or 83% of the US population – with Extended Range LTE.
Launched in December 2014, T-Mobile’s Extended Range LTE – which carries cellular signals 2x further from the tower and works 4x better in buildings than before – has already been deployed to 195 million Americans. With Extended Range LTE, Chicago-area customers will be able to upload and download faster and Snapchat, Skype and stream music and movies in more places than ever before—throughout the Greater Chicago area.
This is just part of T-Mobile’s overall LTE network that already reaches 97% of Americans, over 309 million people including 10.6 million people in the Chicago area, with the country’s fastest LTE speeds. Over the last three years, the Un-carrier has built out its LTE coverage at breakneck pace, including adding more than one million new square miles of LTE coverage last year alone.
“T-Mobile’s LTE network isn’t just America’s fastest—it’s also America’s fastest growing,” said John Legere, president and CEO of T-Mobile. “We already cover 309 million people with our blazing-fast LTE network, and now, T-Mobile Extended Range LTE will be in the 10 biggest markets in the country. It’s another win for T-Mobile customers, and we won’t stop there.”
Two years ago, T-Mobile made its first acquisition of 700 MHz A-Block spectrum from Verizon. Since then, the company has embarked on a very successful strategy to roll-up outstanding A-Block licenses, executing 23 different agreements to beef up the company’s 700 MHz spectrum portfolio. And that’s in addition to the company’s upcoming participation in the 600 MHz incentive auction.
This additional spectrum being purchased in this transaction covers many different towns and cities in the Greater Chicago area, including Chicago, Elgin, Joliet, Waukegan, Evanston, Naperville, Aurora, Gary (IN), Rockford, De Kalb, Janesville (WI), Bloomington, Normal, Kankakee, Kenosha (WI) and more.
The low-band spectrum is to be acquired from Leap Licenseco, Inc., an AT&T subsidiary. The transaction is subject to regulatory approvals and customary closing conditions and is expected to close in 4Q 2016. Deployment of the new 700 MHz spectrum can begin once the deal has closed.
T-Mobile was advised by TAP Advisors in connection with the process for all of its 700MHz A-Block spectrum purchases.
Capable device required for Extended Range LTE; fastest LTE network based on download speeds.
About T-Mobile US, Inc.
As America's Un-carrier, T-Mobile US, Inc. (NASDAQ: TMUS) is redefining the way consumers and businesses buy wireless services through leading product and service innovation. The Company's advanced nationwide 4G LTE network delivers outstanding wireless experiences to more than 65.5 million customers who are unwilling to compromise on quality and value. Based in Bellevue, Washington, T-Mobile US provides services through its subsidiaries and operates its flagship brands, T-Mobile and MetroPCS. For more information, please visit http://www.t-mobile.com.
This news release includes "forward-looking statements" within the meaning of the U.S. federal securities laws. Any statements made herein that are not statements of historical fact, including statements about T-Mobile US, Inc.'s plans, outlook, beliefs, opinions, projections, guidance, strategy, expected network modernization and other advancements, are forward-looking statements. Generally, forward-looking statements may be identified by words such as "anticipate," "expect," "suggests," "plan," “project,” "believe," "intend," "estimates," "targets," "views," "may," "will," "forecast," and other similar expressions. The forward-looking statements speak only as of the date made, are based on current assumptions and expectations, and involve a number of risks and uncertainties. Important factors that could affect future results and cause those results to differ materially from those expressed in the forward-looking statements include, among others, the following: the satisfaction of the conditions to closing the spectrum transaction and the closing of the transaction, our ability to compete in the highly competitive U.S. wireless telecommunications industry; adverse conditions in the U.S. and international economies and markets; significant capital commitments and the capital expenditures required to effect our business plan, including the build-out of our network on spectrum we own or acquire in the future; our ability to adapt to future changes in technology, enhance existing offerings, and introduce new offerings to address customers' changing demands; changes in legal and regulatory requirements, including any change or increase in restrictions on our ability to operate our network; our ability to successfully maintain and improve our network, and the possibility of incurring additional costs in doing so; major equipment failures; severe weather conditions or other force majeure events; and other risks described in our filings with the Securities and Exchange Commission, including those described in our most recently filed Annual Report on Form 10-K. You should not place undue reliance on these forward-looking statements. We do not undertake to update forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.