AT&T offers $5.75 billion for Lumen’s Quantum Fiber network

Lumen Technologies Sells Quantum Fiber Business to AT&T for $5.75 Billion

Lumen Technologies, the successor of Qwest Communications International and owner of CenturyLink, has announced an agreement to sell its consumer fiber business, Quantum Fiber, to AT&T for $5.75 billion in cash. The deal will see AT&T gain nearly 1 million fiber subscribers across 11 states, which will be transferred to its AT&T Fiber network after the completion of the transaction in the first half of 2026.

Lumen has been actively expanding its Quantum Fiber network in metro Denver, transitioning CenturyLink’s fiber and copper phone and DSL customers to the new network. AT&T Fiber will now have increased access to residential and small-business customers in several major metro areas.

According to Kate Johnson, president and CEO of Lumen, the sale will allow the company to focus more on enterprise customers and enhance its financial flexibility. The proceeds from the sale will be used to pay down debt and invest in Lumen’s backbone fiber network and data services.

AT&T Chairman and CEO John Stankey expressed excitement about the acquisition, stating that it represents a significant investment in U.S. connectivity infrastructure. AT&T Fiber plans to double its network by 2030, expanding fiber access to more homes and businesses across the country.

The purchase marks a significant milestone in the telecommunications industry, with AT&T gaining control of a network that traces back to one of the baby bells it was forced to divest decades ago. The deal is expected to create jobs and stimulate economic activity in the regions and states where Quantum Fiber operates.