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Sprint announced today that it has inked a deal with U.S. Cellular for $480 million. Sprint will acquire 20MHz of PCS spectrum in the 1900MHz band across Chicago, South Bend, Ind., and Champaign, Ill. Sprint will also get 10Mhz spectrum in the St. Louis market. U.S. Cellular has also sold off 585,000 of its customers, approximately 10 percent of its subscriber base, to Sprint.

“Acquiring this spectrum will significantly increase Sprint’s network capacity and improve the customer experience in several important Midwest markets including Chicago and St. Louis,” Sprint CEO Dan Hesse said today in a statement.

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