T-Mobile US struck a deal with Comcast to lease and eventually buy the media company’s spectrum licences in the 600MHz band for between $1.2 billion and $3.3 billion, with the final purchase expected to complete in 2028.
In a stock market statement, T-Mobile indicated the buy had to go through various regulatory processes and it expected to file documents with the Federal Communications Commission in the first half of 2027.
Spectrum licences cover various populous areas of the country.
In its statement on the deal, Comcast SVP of wireless strategy Tom Nagel noted it acquired spectrum in the 600MHz range and 3.5GHz band for 5G, but subsequently realised the latter met its needs, leaving it “unlikely to need the 600MHz spectrum licences”.
“As a result, we recently entered into an agreement with T-Mobile in which it will lease and eventually purchase our licences.”
T-Mobile will pay a quarterly fee to Comcast to use the assets until the sale goes through.
Comcast plans to continue testing use of the 600MHz spectrum in the city of Philadelphia and has an “option to reclaim” its licences if required.