AT&T has completed its previously announced all-cash acquisition of substantially all of Lumen Technologies’s Mass Markets fiber business for $5.75 billion, subject to customary adjustments. The transaction expands AT&T’s fiber home internet footprint across 32 states and adds more than 1 million fiber subscribers spread across more than 4 million fiber locations, including new major metro areas such as Denver, Seattle, and Salt Lake City.
The deal increases the scale of AT&T’s fiber platform by bringing more than 4 million customer locations across 11 states into the company’s network plans while also providing access to Lumen’s fiber construction capabilities in those territories. AT&T said the additional construction resources should help accelerate fiber builds outside its traditional wireline operating region, supporting its target of reaching more than 60 million total fiber locations by the end of 2030.
AT&T also framed the acquisition as a way to deepen converged relationships by pairing fiber broadband with 5G wireless offerings in the newly expanded footprint. The company said customers who take both services tend to stay longer, recommend the brand more often, and generate stronger returns, positioning AT&T to compete more effectively for high-value households.
The company reiterated the financial guidance it provided alongside its fourth quarter 2025 earnings report, which had assumed an early 2026 closing of the Lumen transaction.
KEY QUOTE:
“America’s largest network is the best positioned in our industry to serve even more consumers – both in the home and on the go. AT&T Fiber – America’s best and top-rated technology for getting on the internet – will be available to millions more people as we expand the service in 32 states. This investment will create good-paying jobs, boost U.S. connectivity and bring the benefits of high-speed connections to more communities across the country.”
John Stankey, Chairman and CEO, AT&T
