# TELEPHONE & DATA SYSTEMS INC /DE/ (TDS-PV) — capital_return/special_dividend [announced]
Source: SEC API (secapi.ai) · situation sit_0c7e6be677c968116f87 · retrieved 2026-08-12T07:00:58.813Z

## Overview
Telephone and Data Systems, Inc. (TDS) provides broadband, video, voice and wireless services through its TDS Telecom business; Array Digital Infrastructure, Inc. (a subsidiary) leases tower space to tenants, holds noncontrolling interests in wireless operating companies, and holds wireless spectrum licenses.

On May 7, 2026, Telephone and Data Systems, Inc. (TDS) delivered a non-binding proposal to the Array Digital Infrastructure, Inc. Board of Directors to acquire all outstanding Array Common Shares not owned by TDS. A special committee of independent and disinterested Array directors was formed to evaluate the proposal. The filing notes that Array has been monetizing its wireless spectrum assets, having closed sales of 700 MHz licenses for $74.8 million on May 5, 2026, 600 MHz licenses for $86.4 million on May 12, 2026, and cellular and other spectrum licenses for $1 billion on June 1, 2026, and issued a special dividend of $11 per common share on June 25, 2026.

## Terms
- Counterparty: Array Digital Infrastructure, Inc.

## Key dates
- Announced 2026-08-07

## Timeline
- 2026-08-07 · 8-K (0001051512-26-000062): 8-K - TELEPHONE & DATA SYSTEMS INC /DE/ — *Telephone and Data Systems, Inc. (TDS) provides broadband, video, voice and wireless services through its TDS Telecom business; Array Digital Infrastructure, Inc. (a subsidiary) leases tower space to tenants, holds noncontrolling interests in wireless operating companies, and holds wireless spectrum licenses.* On May 7, 2026, Telephone and Data Systems, Inc. (TDS) delivered a non-binding proposal to the Array Digital Infrastructure, Inc. Board of Directors to acquire all outstanding Array Common Shares not owned by TDS. A special committee of independent and disinterested Array directors was formed to evaluate the proposal. The filing notes that Array has been monetizing its wireless spectrum assets, having closed sales of 700 MHz licenses for $74.8 million on May 5, 2026, 600 MHz licenses for $86.4 million on May 12, 2026, and cellular and other spectrum licenses for $1 billion on June 1, 2026, and issued a special dividend of $11 per common share on June 25, 2026.
  https://www.sec.gov/Archives/edgar/data/1051512/0001051512-26-000062.txt

## Citations
- 0001051512-26-000062 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000105151226000062