AT&T closed its $5.75 billion all-cash acquisition of substantially all of Lumen Technologies’ Mass Markets fiber business, transferring more than 1 million fiber subscribers and more than 4 million fiber locations into the AT&T footprint.
The acquired footprint spans 11 states and includes new major metro markets cited by AT&T such as Denver, Seattle, and Salt Lake City, with AT&T targeting a higher fiber penetration rate over time from roughly 25% in the acquired territory.
AT&T said the transaction expands its “build engine” outside its traditional wireline operating region and supports its plan to reach about 60 million total fiber locations by the end of 2030.
- Transaction value: $5.75 billion (cash), subject to customary adjustments.
- Scale added: ~1 million fiber subscribers; 4+ million fiber locations; 11-state footprint.
- Build strategy: AT&T gains access to Lumen’s local fiber construction capabilities in those territories; AT&T expects faster build pace in the acquired regions.
- 2030 target: ~60 million total fiber locations (consumer + business, including open-access served locations).
- Media contact (release): Brittany Siwald, AT&T Corporate Communications.
“America’s largest network is the best positioned in our industry to serve even more consumers – both in the home and on the go,” said John Stankey, Chairman and CEO of AT&T. “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.”
🌐 Analysis, Verizon is extending fiber reach through a mix of M&A (its Frontier Communications deal) plus third-party build models like its Eaton Fiber agreement with Tillman Global Holdings, while Google Fiber continues a city-by-city expansion playbook anchored on municipal agreements and staged construction timelines. The Fiber Broadband Association’s latest deployment survey frames the competitive backdrop: 11.8 million new U.S. fiber passings in 2025, 98.3 million FTTH passings (counting multiple passings), and a projection that fiber could overtake cable as the dominant access platform as early as 2028.