SpaceX agrees to buy 800 MHz spectrum from Grain Management, pending FCC approval
Overview
SpaceX has announced an agreement to buy a nationwide 800 MHz spectrum portfolio from Grain Management, covering up to 14 MHz of paired spectrum. The purchase is subject to Federal Communications Commission approval and, according to the announcement, is intended to help Starlink become a major US mobile carrier. CNBC reported that shares of AT&T, Verizon, and T-Mobile fell in extended trading after the news. The report describes the stock declines but does not establish their cause beyond the timing of the announcement.
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- CNBC · TechnologySpaceX agrees to buy 800 MHz spectrum, pressuring US carrier stocks
SpaceX announced an agreement to buy a nationwide 800 MHz spectrum portfolio from Grain Management, subject to FCC approval. The license covers up to 14 MHz of paired spectrum and is intended to help Starlink become a major US mobile carrier. AT&T, Verizon, and T-Mobile shares fell in extended trading after the announcement.
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