US Cellular 2015 Annual Report Download - page 115

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Cellular has set up a receivable in the amount of $18.4 million as of December 31, 2015 as part of Phase II of the
Mobility Fund.
NOTE 20 CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS
The following persons are partners of Sidley Austin LLP, the principal law firm of TDS and its subsidiaries: Walter C.D.
Carlson, a trustee and beneficiary of a voting trust that controls TDS, the non-executive Chairman of the Board and
member of the Board of Directors of TDS and a director of U.S. Cellular, a subsidiary of TDS; William S. DeCarlo, the
General Counsel of TDS and an Assistant Secretary of TDS and certain subsidiaries of TDS; and Stephen P. Fitzell, the
General Counsel of U.S. Cellular and TDS Telecommunications Corporation and an Assistant Secretary of certain
subsidiaries of TDS. Walter C.D. Carlson does not provide legal services to TDS or its subsidiaries. TDS, U.S. Cellular
and their subsidiaries incurred legal costs from Sidley Austin LLP of $11.9 million in 2015, $15.4 million in 2014 and
$17.6 million in 2013.
The Audit Committee of the Board of Directors of TDS is responsible for the review and evaluation of all related-party
transactions as such term is defined by the rules of the New York Stock Exchange.
NOTE 21 SUBSEQUENT EVENTS
In January 2016, TDS entered into an agreement to purchase a 700 MHz A Block license for $36.0 million. The
transaction is expected to close in the third quarter of 2016 pending regulatory approval. In February 2016, TDS entered
into multiple agreements with third parties that provide for the transfer of certain AWS and PCS spectrum licenses and
approximately $30 million in cash to U.S. Cellular, in exchange for U.S. Cellular transferring certain AWS, PCS and 700
MHz licenses to the third parties. The transactions are subject to regulatory approval and other customary closing
conditions, and are expected to close in 2016. Upon closing of the transactions, TDS expects to recognize a gain.
107
TELEPHONE AND DATA SYSTEMS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS