DENVER--(BUSINESS WIRE)--Feb 2, 2026--
Lumen Technologies (NYSE: LUMN ) today announced that it has completed the sale of its Mass Markets fiber-to-the-home business in eleven states, including Quantum Fiber, to AT&T (NYSE: T ) for $5.75 billion in cash. The sale includes substantially all of the related consumer fiber access network and customer relationships in those states, which serves more than 1 million fiber customers and reaches more than 4 million enabled fiber locations. The completed transaction is another strategic milestone in Lumen’s transformation into the leading enterprise digital networking services company built for the multi-cloud, AI-driven economy.
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“The divestiture of our consumer fiber-to-the-home business marks a pivotal moment for Lumen. We are doubling down on where we are strongest and where the opportunity is greatest for us – powering the digital infrastructure that enterprises and public sector organizations need to win in the AI era,” said Lumen CEO Kate Johnson. “With a stronger balance sheet and a clear path to sustainable growth, we are accelerating our efforts to modernize our network, scale our digital platform, and build the connected ecosystem that drives real outcomes for our customers and creates lasting value for shareholders.”
Lumen plans to apply approximately $4.8 billion of the transaction proceeds and cash on hand to retire all super priority debt, reducing the company’s interest expense by approximately $300 million annually and accelerating its transformation strategy. The completed transaction is expected to reduce the company’s debt to less than $13 billion with a net debt to adjusted EBITDA ratio of below 4x.
As part of the completed transaction, Lumen will retain assets that will continue to serve as the foundation of its enterprise transformation, including all national, regional, state, and metro level fiber backbone network infrastructure, central offices and associated real estate. In addition, Lumen is retaining and caring for its copper-based consumer services, which continue to provide a strong ongoing financial contribution to Lumen. The enterprise and wholesale fiber customers will remain with Lumen in all geographies.
Lumen also expressed its deep appreciation for Wes Gibson, who previously led Lumen’s Mass Markets business and will lead NetworkCo, as well as for the entire team of employees transitioning to AT&T and its new subsidiaries.
“We want to thank Wes and every Lumen colleague who is transferring as part of this transaction,” Johnson said. “This team built a strong business and served our customers with dedication and pride. We’re grateful for their contributions to Lumen and confident they will continue to serve the consumer market as part of the AT&T family.”
With the completed transaction, Lumen’s growth strategy is centered on a differentiated set of capabilities built for large enterprises, global hyperscalers, and public sector organizations:
Added Johnson: “These three components of our strategy – building the best physical network, a digital platform aimed at delivering ubiquitous connectivity with elegant customer experiences, and a rich, connected ecosystem of technology partners that extends our commercial reach – are how we will create value for our customers and return Lumen to growth.”
Lumen first announced its plan to sell its consumer business to AT&T on May 21, 2025.
Lumen’s management team will address the completed transaction during the company’s Q4/full-year 2025 earnings conference call on Feb. 3. In line with the company’s regular reporting practice, Lumen will provide forward-looking annual guidance, which will reflect the aforementioned asset sale impact. The conference call will be webcasted from Lumen’s Investor Relations website at ir.lumen.com.
Additional information is available here.
About Lumen Technologies
Lumen is unleashing the world's digital potential. We ignite business growth by connecting people, data, and applications – quickly, securely, and effortlessly. As the trusted network for AI, Lumen uses the scale of our network to help companies realize AI's full potential. From metro connectivity to long-haul data transport to our edge cloud, security, managed service, and digital platform capabilities, we meet our customers’ needs today and as they build for tomorrow.
For news and insights visit news.lumen.com, LinkedIn: /lumentechnologies, X: lumentechco, Facebook: /lumentechnologies, Instagram: @lumentechnologies and YouTube: /lumentechnologies. Lumen and Lumen Technologies are registered trademarks of Lumen Technologies LLC in the United States. Lumen Technologies LLC is a wholly owned affiliate of Lumen Technologies, Inc.
Forward-Looking Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including statements regarding management’s expectations with respect to our business, strategy and operations as well as statements identified by words such as “estimates,” “expects,” “anticipates,” “believes,” “plans,” “intends,” “will,” and similar expressions. These forward-looking statements are not promises nor guarantees of future results, are based on our current expectations only and are subject to various risks and uncertainties, including those described in our most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q, as updated in our other filings with the U.S. Securities and Exchange Commission from time to time. Actual results may differ materially from those anticipated by us in these statements due to several factors, including those referenced in our filings with the U.S. Securities and Exchange Commission.
Lumen sharpens its focus on enterprise networking, accelerating path to growth and financial flexibility following the completed sale of its consumer fiber-to-the-home business to AT&T for $5.75 billion.
Lumen CEO Kate Johnson
Strikes on cities across Iran have killed more than 25 people Sunday into Monday, while in Israel's Haifa two people were found dead and two others were missing in rubble a day after an Iranian attack.
U.S. President Donald Trump on Sunday stepped up his threat to hit Iran's critical infrastructure hard if the country's government doesn’t reopen the Strait of Hormuz by his Tuesday deadline.
Trump punctuated his threat with profanity in a social media post, saying Tuesday will be “Power Plant Day, and Bridge Day, all wrapped up in one, in Iran.”
The war began with joint U.S.-Israel strikes on Feb. 28 and has killed thousands, shaken global markets, cut off key shipping routes and spiked fuel prices. Both sides have threatened and hit civilian targets, bringing warnings of possible war crimes from the United Nations and international law experts.
Here is the latest:
An Iranian drone attack damaged a telecommunications building in Fujairah in the United Arab Emirates on Monday, the state-run WAM news agency reported.
The attack targeted a building of the state-funded du telecom company.
No one was injured, WAM reported, quoting officials in Fujairah.
South Korea’s National Intelligence Service says there are no signs North Korea is providing Iran with weapons or other war-related supplies.
The spy agency’s officials told lawmakers Monday that North Korea may be taking a cautious approach to preserve the possibility of dialogue with the Trump administration, according to two lawmakers who attended the closed-door briefing.
North Korea’s Foreign Ministry has condemned the U.S.-Israeli attacks on Iran as illegal, but the NIS said Pyongyang has not sent an official condolence message over the death of Ayatollah Ali Khamenei, Iran’s late supreme leader.
North Korean leader Kim Jong Un in recent years has embraced the idea of a “new Cold War” and attempted to expand cooperation with countries confronting the U.S., including an economic delegation sent to Iran in April 2024.
South Korea plans to send at least five ships to Saudi Arabia’s Yanbu port in the coming weeks to establish new oil transport routes in the Red Sea.
The Ministry of Trade, Industry and Resources said Monday the ships will be deployed in phases beginning in mid-April and the number of vessels could increase depending on contracts with Saudi partners.
Officials did not disclose the companies involved but said some domestic refiners may use non-Korean shipping firms.
South Korea also plans to send special envoys to Saudi Arabia, Oman and Algeria to step up diplomatic efforts to secure alternative fuel supplies, ruling party lawmaker Ahn Do-geol said.
The foreign ministry did not immediately reveal when the envoys would be sent.
Iran has executed another man convicted over charges stemming from the nationwide protests that swept Iran in January.
The judiciary’s Mizan news agency identified the man hanged as Ali Fahim in a report Monday.
It was unclear when he was executed.
Fahim had been convicted of allegedly storming a military base to seize weapons.
Amnesty International said Fahim and others convicted in the case “were subjected to torture and other ill-treatment in detention, including beatings, floggings, prolonged solitary confinement, and death threats at gunpoint before being convicted in grossly unfair trials that relied on forced ‘confessions’ extracted under torture and lasted only a few hours.”
The Human Rights Activist News Agency had said Fahim and others had entered a Tehran base of the all-volunteer Basij militia, an arm of the Revolutionary Guard, after it had been burned, then had been forced into confessions.
Israel rescue services reported Monday morning several sites were hit by missiles launched from Iran toward multiple cities in the center of Israel.
In Petah Tikva, paramedics provided medical treatment to an injured woman in serious condition with a chest injury from shrapnel and evacuated her to the Beilinson Hospital.
Fire fighters in that city are handling cars on fire and continue searching to ensure there are no people trapped in the rubble.
In Tel Aviv, a man slightly injured by glass shrapnel was evacuated to the Ichilov Hospital.
Footage provided by rescue service Magen David Adom shows damage to residential buildings due to the attack.
Meanwhile, Israel’s military warned the public Monday morning of another missile barrage coming from Iran, the fourth-such alert of the day.
Israel’s Magen David Adom and Fire and Rescue services said early Monday that there are several reported sites of Iranian missile hits in the northern city of Haifa.
In one site, four people were slightly injured, including two children.
The missile attacks hit residential areas and a factory in the city.
The factory was hit by shrapnel from an interception.
It is unclear if all the reported hits were caused by shrapnel from interception or direct hits.
Video footage provided by Magen David Adom of the affected sites show active fire and bombed cars in what appears to be a residential area.
The missile strikes come a day after another attack from Iran also hit a Haifa residential area, killing two people and injuring others.
Two other people remain missing under the rubble caused by Sunday's strike and their fate is still unknown.
In the United Arab Emirates’ capital of Abu Dhabi, authorities said a Ghanaian man suffered wounds from shrapnel after the interception of an Iranian missile over the city’s Musaffah neighborhood.
That’s near Al Dhafra Air Base, which hosts U.S. forces and has been repeatedly targeted by Iran in the war.
Women hold Iranian flags during a pro-government gathering in a square in Tehran, Iran, Sunday, April 5, 2026. (AP Photo/Francisco Seco)
A picture of the late Iranian Supreme Leader Ayatollah Ali Khamenei hangs on the side of the road in the outskirts of Tehran, Iran, early Sunday, April 5, 2026. (AP Photo/Francisco Seco)
Rescue workers search for victims at the site of an Israeli airstrike that hit a crowded neighbourhood south of Beirut, Lebanon, Sunday, April 5, 2026. (AP Photo/Hussein Malla)
A commercial plane is preparing to land at Beirut Airport as smoke rises from Israeli airstrikes in Dahiyeh, a southern suburb of Beirut, Lebanon, Sunday, April 5, 2026. (AP Photo/Emilio Morenatti)
Israeli security forces and rescue teams work amid the rubble of a residential building struck by an Iranian missile in Haifa, Israel, Sunday, April 5, 2026. (AP Photo/Ariel Schalit)
