We are advising Comcast on the transaction

Davis Polk is advising Comcast Corporation in connection with a license purchase agreement relating to the sale of spectrum in the 600 MHz band to T-Mobile USA, Inc. in exchange for total cash consideration of between $1.2 billion and $3.3 billion. Consummation of the proposed transactions is subject to various customary conditions, including approval of the transaction by the Federal Communications Commission. The transaction is expected to close in the first half of 2028.

The final purchase price will be determined, in the aggregate and on a per license basis, based on the set of licenses subject to the license purchase agreement at the time the parties make required transfer filings with the Federal Communications Commission.

Comcast is a global media and technology company. Comcast delivers world-class broadband, wireless and video through Xfinity, Comcast Business and Sky; produces, distributes, and streams leading entertainment, sports and news through brands including NBC, Telemundo, Universal, Peacock and Sky; and brings incredible theme parks and attractions to life through Universal Destinations & Experiences.

The Davis Polk corporate team was led by partner Brian Wolfe of the New York office.

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