Telecommunications

On November 7, 2024, United States Cellular Corporation (“UScellular”) announced that it has entered into an agreement with AT&T to sell a portion of the company's retained spectrum licenses for total consideration of $1.018 billion. The transaction is part of the objective UScellular announced on May 28, 2024, to opportunistically monetize the spectrum that was not included in the proposed sale to T‑Mobile; and follows the transactions previously announced on October 18, 2024, to sell a portion of the retained spectrum licenses to Verizon and two other mobile network operators. Cravath is representing the independent directors of UScellular in connection with the transaction.

On October 18, 2024, United States Cellular Corporation (“UScellular”) announced that it has entered into an agreement with Verizon Communications Inc. to sell a portion of the company's retained spectrum licenses for total consideration of $1 billion. Additionally, UScellular has entered into agreements with two other mobile network operators for the sale of other selected spectrum licenses. The transactions are part of the objective UScellular announced on May 28, 2024, to monetize the spectrum that was not included in the proposed sale to T-Mobile. Cravath is representing the independent directors of UScellular in connection with the transaction.

On September 5, 2024, Verizon Communications Inc. and Frontier Communications Parent, Inc. (“Frontier”), the largest pure‑play fiber provider in the U.S., announced they have entered into a definitive agreement for Verizon to acquire Frontier in an all‑cash transaction valued at $20 billion. Cravath is representing Frontier in connection with the transaction.

Cravath represented Crown Castle Inc. in connection with its $1.25 billion registered senior notes offering. Crown Castle Inc. is an owner, operator and lessor of shared wireless infrastructure. The transaction closed on August 12, 2024.

Cravath represented QUALCOMM Incorporated in connection with its $4 billion revolving credit. QUALCOMM Incorporated is a global leader in the development and commercialization of foundational technologies for the wireless industry. The transaction closed on August 8, 2024.

On November 12, 2024, Cravath partner Rachel Skaistis was profiled in Lawdragon’s “Lawyer Limelight” series alongside her sister Hannah Ross, who is a partner at a different New York-based law firm. In the joint Q&A, Rachel and Hannah discussed their parallel paths to partnership and reflected on their individual practices in securities law. Describing what she is proudest of in her work, Rachel said: “I have had the privilege of working with such amazing lawyers, and I’ve gotten to learn from so many litigation styles. But it is nice to get to a point where you feel like you have found a style of practicing and advising your clients that is true to who you are.” The sisters also spoke about the mentors and role models, including each other, who helped shape their careers as female litigators.

Cravath partner Gary A. Bornstein was named a finalist for The American Lawyer’s 2024 Litigator of the Year award as part of the publication’s seventh annual Industry Awards. The accompanying profile highlights Gary’s “many trial victories” and representation of clients including Epic Games in its antitrust trial victory against Google; Deutsche Telekom in a putative class action and derivative litigation related to T‑Mobile’s $26 billion merger with Sprint; and British American Tobacco in putative class action securities litigation.

On March 26, 2024, Cravath partner David R. Marriott was named to Forbes’s 2024 list of “America’s Top 200 Lawyers.” The inaugural list recognized “the finest practitioners in the profession—lawyers with stellar track records in their specialties, those who have broken barriers to emerge as leaders in their fields, and attorneys most respected by peers and clients.” Dave’s accompanying profile highlighted his experience as a “courtroom heavyweight” and his representation of clients including AT&T, Avon Products, Bank of America, Bristol‑Myers Squibb, Colgate‑Palmolive and Delta Airlines. In particular, the publication noted Dave’s achievement of “setting precedent in antitrust and intellectual property law.”

On August 14, 2023, the India Business Law Journal named Cravath among the “Significant Players” in its 2023 ranking of the top international law firms for India‑related work. The publication noted the Firm’s work to help “Indian companies navigate US‑related capital raising transactions, M&A, joint ventures, disputes, and related compliance and reporting advice,” and highlighted its representation of Viatris in its acquisitions of Oyster Point and Famy Life Sciences to create an ophthalmology franchise. The Firm was also recognized for its representation of Airspan in its sale of Mimosa to Radisys on a debt‑free, cash‑free basis.

Between July 28 and August 11, 2023, Cravath advised on nine announced deals, including seven deals in a span of three business days. Cravath is representing: