EchoStar Rises 4.5% After FCC Clears $40 Billion Spectrum Sale to AT&T and SpaceX
Updated
Updated · CNBC · May 13
EchoStar Rises 4.5% After FCC Clears $40 Billion Spectrum Sale to AT&T and SpaceX
6 articles · Updated · CNBC · May 13
EchoStar shares climbed nearly 4.5% in premarket trading after the FCC approved the company’s $40 billion sale of wireless spectrum.
The deal transfers 50 megahertz of spectrum to AT&T and 65 megahertz to SpaceX, giving buyers a combined 115 megahertz of EchoStar airwaves.
The approval made EchoStar one of the biggest premarket gainers, standing out in a session where several other stocks moved sharply on earnings and guidance.
The sale marks a major regulatory step in reshaping U.S. spectrum holdings, with AT&T expanding wireless capacity and SpaceX adding bandwidth for its connectivity ambitions.
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