Waller Capital Advises U.S. Cellular on Wireless Acquisition

On May 23, 2014, United States Cellular Corporation (“U.S. Cellular”) entered into a License Purchase and Customer Recommendation Agreement (the “Agreement”) with Airadigm Communications, Inc. (“Airadigm”).  Telephone and Data Systems, Inc. (“TDS”) owns 100% of the common stock of Airadigm. The Agreement provides that Airadigm will transfer to U.S. Cellular 16 FCC spectrum licenses and certain tower assets in the markets identified below, in consideration for $91.5 million in cash at closing.

The FCC licenses include 30MHz licenses in each of Appleton-Oshkosh WI, Cedar Rapids IA, Eau Claire WI, Fond du Lac WI, Green Bay WI, Janesville-Beloit WI, LaCrosse WI-Winona MN, Madison WI, Manitowoc WI, Sheboygan WI, Stevens Point-Marshfield WI, Waterloo-Cedar Falls IA and Wausau-Rhinelander WI, and 10MHz licenses in each of Dubuque IA, Marinette WI-Menominee MI, and Wausau-Rhinelander WI.

Waller Capital Partners, LLC served as exclusive financial advisor to the U.S. Cellular Special Committee in the transaction.