SpaceX deal to acquire spectrum license hammers shares of AT&T, Verizon and T-Mobile
SpaceX agreed to purchase a nationwide spectrum portfolio as it to pushes its Starlink service deeper into the U.S. telecommunications market.
SpaceX has agreed to purchase a nationwide spectrum portfolio, expanding its presence in the US telecommunications market with its Starlink service. The acquisition, which includes up to 14 megahertz of paired low-band frequencies, will allow Starlink Mobile to deploy a hybrid satellite-and-terrestrial network.
The deal has negatively impacted shares of major US telecommunications companies. According to Investing.com, AT&T plummeted 6.75%, T-Mobile US dropped 5.4%, and Verizon Communications fell 5% in after-hours trading following the announcement.
The acquisition addresses a technical gap for Starlink Mobile, enabling it to provide seamless, uninterrupted service indoors, outdoors, and in cellular dead zones. The 800 MHz band will complement Starlink Mobile's existing 2 GHz mid-band spectrum, and most existing mobile devices already support this frequency. The deal is pending final Federal Communications Commission approval.
Brief written by urgent.news from CNBC World, CNBC, Investing.com — 3 reports on this story. Machine-written — may contain errors; check the original before relying on it.
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