Array Digital On The Radar: Why TDS Wants The Remaining 18%

Telephone and Data Systems, Inc. (TDS) and Array Digital Infrastructure reported their first quarter 2026 results highlighting ongoing strategic transitions in their respective businesses. A key development is TDS’s proposal to acquire all remaining shares of Array Digital Infrastructure in an all-stock transaction, aiming to streamline operations, reduce costs, and enhance capital structures. TDS currently owns approximately 82% of Array, with the acquisition contingent on approvals from Array’s independent shareholders, TDS shareholders, and regulatory bodies. The proposal anticipates dividend payments to Array shareholders from expected spectrum license sales prior to closing. Regarding TDS Telecom, the focus remains on expanding its fiber network. In Q1 2026, the company delivered 40,000 new marketable fiber service addresses—the highest first-quarter total in its history and nearly triple the count from the first quarter of 2025—bringing the total fiber footprint to about 1.