AT&T remains open to more fiber acquisitions, but only under strict conditions. The company closed its Lumen fiber asset deal in January. Now it may consider similar moves if the price and geography align.
CEO John Stankey made that position clear during the Q3 2026 earnings call. “Sure, I’d be interested in picking up more footprint if it holds to my point of view of use getting scale in the right geography. I don’t want to just buy footprint for the sake of buying it,” Stankey said.
That message matters across the broadband market. Fiber builders face higher rates, tighter funding, and rising deployment costs. Larger operators can use this moment to expand faster. Yet they must avoid buying disconnected assets that add complexity.
Stankey said any target must connect well with existing network areas. It should also improve operating scale. He said Lumen met that standard for AT&T.
The discussion also touched on Brightspeed. The operator serves parts of 20 states. It recently received a going concern warning from auditors. Reports also suggest it seeks new financing for its fiber buildout.
Meanwhile, analysts continue to watch several smaller fiber challengers. Names include Allo Fiber, Gateway Fiber, LiveOak Fiber, Wire 3, Intrepid Fiber, and Ezee Fiber. Verizon partner Eaton Fiber is already acquiring Ripple Fiber.
Still, not every network will interest AT&T. Location, density, and integration costs will shape every decision. A low purchase price alone may not justify the deal.
Beyond acquisitions, AT&T also sees opportunity in open access. This model lets multiple service providers use one fiber network. It can improve network usage and create wholesale revenue.
Stankey did not rule out that approach in legacy wireline markets. “I wouldn’t rule that out over the long haul,” he said.
He also mentioned possible deals with other providers. These could include exclusive MVNO agreements. They could also involve access to attractive fiber areas. “You can be geographically driven … [but] not all markets are created equal.”
However, AT&T faces pricing pressure in fiber broadband. Fiber average revenue per user fell 4% year over year. It reached $70.35 in the quarter. The company blamed introductory offers, bundle discounts, and lower Lumen-market pricing.
Stankey argued that ARPU alone gives an incomplete view. “I don’t want to focus on that [ARPU] exclusively,” Stankey said. “What we want to focus on is the fact that we’re seeing great service revenue growth in our business.”
The broader numbers support that argument. AT&T added 442,000 fiber connections in the quarter. It reached 13.31 million total fiber subscribers. Fixed wireless access also grew by 327,000 customers.
AT&T ended the quarter with 39.7 million fiber locations. That includes owned networks and joint ventures. The company targets 60 million fiber locations by 2030.
For telecom professionals, the signal is clear. Fiber consolidation will continue, but discipline will decide the winners. Scale helps, yet smart geography may matter even more.
