AT&T agrees $5.75 billion deal for Lumen’s consumer fibre assets

News

AT&T has reached a $5.75 billion deal to acquire fiber assets from Lumen Mass Markets

By: Brad Randall, Broadband Communities

A deal between AT&T and Lumen will see AT&T acquire “substantially all” of Lumen’s Mass Market fiber business, AT&T has announced.

The news, revealed yesterday by AT&T, will be an all-cash transaction that will significantly expand AT&T investment in connectivity infrastructure, according to AT&T.

Assets included in the deal are roughly 1 million fiber subscribers across 4 million fiber locations, according to AT&T’s May 21 release.

AT&T’s CEO, John Stankey, said the deal will create jobs and spur economic activity in metro areas across 11 states.

His comments were included in AT&T’s announcement.

“We’re leading the race to connect more Americans with fiber, the best broadband connectivity technology available,” Stankey said. “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.”

AT&T’s release said the deal will see the acquired assets held by a new, fully owned subsidiary named 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,” AT&T’s release stated.

Additionally, Lumen’s enterprise customers and copper-based customers of Mass Markets are not part of the agreement, according to AT&T.

The deal is expected to close in the first half of 2026. The deal also remains subject to regulatory approval, AT&T’s release explained.

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