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BUZZ-US mobile base station operators' share prices soar after SpaceX acquires spectrum

On Friday, after SpaceX's SPCX.O completed a nationwide acquisition of low-frequency spectrum, shares of U.S. mobile tower operators surged, enabling Elon Musk's Starlink Mobile to challenge traditional wireless giants. Crown Castle (CCI.N) jumped 11.2% to $76.61, on track for its largest single-day gain since March 2020. American Tower (AMT.N) rose 7% to $178.34, poised for its biggest increase in two years, while SBA Communications (SBAC.O) climbed 6.2% to $180.58. Tower stocks rallied as investors bet SPCX’s ambitions in wireless service could drive new demand for terrestrial infrastructure, leading to sharp declines in the shares of telecom giants AT&T (T.N), Verizon (VZ.N), and T-Mobile US (TMUS.O). JPMorgan said the deal was “incrementally positive” for tower operators, noting it could require deploying towers, rooftop sites, and small cells, while broader urban competition would call for a significant boost in terrestrial infrastructure and spectrum. Amid these developments, CCI is down about 14% year-to-date, SBAC is down roughly 6.5%, and AMT is up nearly 2% in 2026. By comparison, the S&P 500 Real Estate Investment Trusts Index (.SPLRCREC) has gained about 6% so far this year.

SpaceX rises 3.3% and reaches an agreement to acquire a nationwide low-frequency spectrum portfolio.

SpaceX (SPCX.US) rose by 3.3% following news that the company has reached an agreement to acquire a nationwide low-band spectrum package. T-Mobile US (TMUS.US) declined by 9.6%, AT&T (T.US) fell by 8.2%, and Verizon (VZ.US) dropped by 6%.

AT&T Down Nearly 9%, on Pace for Largest Percent Decrease Since April 2023 -- Data Talk

AT&T Inc (T) is currently at $22.70, down $2.17 or 8.71% --Would be lowest close since July 21, 2026, when it closed at $22.26 --On pace for largest percent decrease since April 20, 2023, when it fell 10.41% --Snaps a three day winning streak --Down 6.56% this week; worst weekly performance since the week ending July 2, 2026, when it fell 9.42% --Down 6.95% month-to-date --Down 8.6% year-to-date; on pace for worst year since 2023, when it fell 8.85% --Down 49.2% from its all-time closing high of $44.70 on July 16, 1999 --Down 12.23% from 52 weeks ago (Oct. 10, 2025), when it closed at $25.87 --Down 21.98% from its 52-week closing high of $29.10 on March 27, 2026 --Up 10.86% from its 52-week closing low of $20.48 on July 1, 2026 --Traded as low as $22.12; lowest intraday level since July 21, 2026, when it hit $21.70 --Down 11.06% at today's intraday low; largest intraday percent decrease since July 22, 2002, when it fell as much as 14.54% --Second worst performer in the S&P 500 today --Most active stock in the S&P 500 today All data as of 9:41:21 AM ET Source: Dow Jones Market Data, FactSet (END) Dow Jones Newswires October 09, 2026 09:43 ET (13:43 GMT)

U.S. Stock Market Unusual Movement: AT&T Plunges on October 9—SpaceX Spectrum Expansion, Competition Concerns, and Target Price Downgrade

Interpretation - What is the low-frequency spectrum obtained by SpaceX for Starlink Mobile?

Harshita Mary Varghese, Reuters, October 9 - SpaceX SPCX.O has agreed to acquire a portfolio of low-band spectrum licenses covering the entire United States, in a deal reportedly valued at $8 billion. The company is seeking to expand its business beyond satellite internet and become a major competitor in the U.S. mobile market. SpaceX revealed its plans to enter the mobile service sector during its first earnings call in August. This announcement briefly weighed on the company’s stock price, and shares of the three major U.S. wireless carriers—AT&T, T-Mobile, and Verizon—were also affected as investors assessed the potential competitive threat. What is low-band spectrum? Low-band spectrum refers to radio waves that travel further and penetrate buildings better compared to higher frequencies, making them suitable for wide-area mobile network coverage. In contrast, mid-band and high-band spectrums can transmit more data at faster speeds but have a smaller coverage area. SpaceX has agreed to purchase up to 14 MHz of paired 800 MHz low-band spectrum licenses from Grain Management and plans to develop a hybrid architecture for Starlink Mobile, combining terrestrial infrastructure with satellite connectivity. How is the U.S. spectrum licensing system structured? Commercial spectrum is a scarce resource in the U.S., regulated by the Federal Communications Commission (FCC), which typically allocates licenses for specific frequencies and geographic areas via auctions or other authorization processes. License holders must comply with technical rules and deployment requirements, and transfers of licenses usually require regulatory approval before obligations are fulfilled. The spectrum license deal recently struck by SpaceX is pending FCC approval. Which low-band spectrum do the three major carriers hold? AT&T’s low-band spectrum includes the 700 MHz and 850 MHz bands, as well as 600 MHz spectrum licenses acquired this July through the purchase of EchoStar. Verizon holds spectrum in the 700 MHz and 850 MHz bands, while T-Mobile’s low-band holdings include 600 MHz and 700 MHz spectrum. What are the plans for STARLINK MOBILE? The company plans to integrate these spectrum licenses into its next-generation satellite system, while also deploying terrestrial radio equipment and antennas on communication towers and rooftops. The FCC this week approved Starlink Mobile’s application for its second-generation (Gen2) satellite constellation, authorizing SpaceX to launch 15,000 satellites globally optimized for the 2 GHz spectrum.

Stocks Rise Pre-Bell Following Tech Selloff

07:48 AM EDT, 10/09/2026 (MT Newswires) -- The benchmark US stock measures pointed higher before the open Friday following a selloff in technology shares in the previous session, while investors await major earnings reports scheduled for next week. The S&P 500 rose 0.4%, the Dow Jones Industrial Average increased 0.2%, and the Nasdaq 100 rose 0.8% in premarket activity. The S&P 500 and Nasdaq Composite closed the previous trading session down for the second straight day, while the Dow finished green. Major technology stocks fell Thursday following a report from the Financial Times that OpenAI's annualized revenue stood at roughly $50 billion in September, below prior investor estimates of $70 billion. Nvidia (NVDA) closed Thursday down 2.9%, while Oracle (ORCL), Micron Technology (MU) and Broadcom (AVGO) fell 5.5%, 4.8% and 4.4%, respectively. Nvidia and Micron rebounded in Friday's premarket trading as Bloomberg reported that OpenAI expects to reach or exceed $70 billion in annualized revenue by year-end, citing people familiar with the matter. Wall Street's banking heavyweights, including JPMorgan Chase (JPM), Bank of America (BAC), Goldman Sachs (GS), Morgan Stanley (MS), Wells Fargo (WFC) and Citigroup (C), are expected to release their third-quarter results next week, along with major healthcare corporations such as Johnson & Johnson (JNJ) and UnitedHealth (UNH). Investors will also be eyeing fresh inflation data due next week, including September consumer price index and wholesale producer price data. Treasury yields were trending higher early Friday, with the two-year rate inclining 3.3 basis points to 4.79% and the 10-year rate gaining 2.2 basis points to 5.26%. In a social media post on Thursday, President Donald Trump said the US won't be launching strikes against Iran at any time before the mid-term elections next month. Trump added that his administration is having "productive discussions" with Tehran. Trump's post comes after NBC News reported earlier in the week that Trump and his national security

Updated: SpaceX spectrum trading triggers industry shock, US and European telecom stocks decline

In early trading of the S&P 500 index components, T-Mobile and Verizon led the declines as the European telecom sector fell to its lowest point since January. According to an updated report with stock price data and charts by Rashika Singh from Reuters on October 9, U.S. and European telecom stocks dropped sharply on Friday amid growing concerns about intensified competition in satellite mobile services after SpaceX’s acquisition of low-band spectrum. T-Mobile US, Verizon, and AT&T saw pre-market losses ranging from 5.5% to 7.4%, while the STOXX Europe 600 Telecommunications Index fell over 2% to its lowest level since January 30. Among the largest European telecom operators by market value, Deutsche Telekom dropped 6.5%, Vodafone decreased by 4.1%, Orange fell by 2.3%, and Telefónica dipped 3.9%. The stock declines followed reports (link) that SpaceX agreed to acquire a nationwide 800 MHz spectrum portfolio from private equity firm Grain Management for approximately $8 billion. This move bolsters SpaceX’s ambitions in satellite-to-cellular network connectivity. Analysts at Morgan Stanley commented, “We believe the Grain deal clearly indicates that SpaceX will pursue a more aggressive approach in spectrum acquisitions,” adding that any threat to existing operators would likely emerge gradually, starting with rural markets. Compared to higher-frequency radio waves, low-band spectrum travels longer distances and more effectively penetrates buildings and obstacles, which may facilitate SpaceX in advancing its Starlink Mobile service. Although financial terms were not disclosed by the parties, The Wall Street Journal cited sources valuing the deal at $8 billion. SpaceX shares rose 4% following the announcement, though the transaction is still subject to regulatory approval. [Chart link: https://www.reuters.com/graphics/BRV-BRV/lbvgxnzxepq/chart.png] Communications tower stocks bucked the sector-wide sell-off, as investors bet that SpaceX’s wireless ambitions would ultimately drive demand for more ground infrastructure. American Tower, Crown Castle, and SBA Communications saw gains between 6.7% and 8.3%. Morgan Stanley noted the deal is a “marginal positive” for communications tower operators, pointing out that even satellite-dominated networks may require the deployment of towers, rooftop and small cell sites, and that broader urban competition would necessitate substantial ground-based infrastructure and spectrum resources. (Reuters provides automated translations of its reports in several other languages for the benefit of non-English readers. Automated translations may be inaccurate or lack necessary context, and Reuters does not guarantee the accuracy of translated texts. Automated translations are provided for convenience only, and Reuters is not liable for any damage or loss caused by the use of automated translation services.)

AT&T to Offer New iPhone Model Starting Oct. 23

07:39 AM EDT, 10/09/2026 (MT Newswires) -- AT&T (T) said Friday it will offer Apple's (AAPL) new iPhone Duo, with pre-orders starting Oct. 16 and general availability beginning Oct. 23. The company said new and existing customers can get up to $1,200 off with eligible trade-ins. AT&T said customers can pair the device with its Unlimited Your Way plans, which offer unlimited talk, text, and data in the U.S., Canada, and Mexico, along with 5G access and mobile security features.

SpaceX to Acquire Low-Band Spectrum Portfolio From Grain Management in Mobile Connectivity Push

06:50 AM EDT, 10/09/2026 (MT Newswires) -- SpaceX (SPCX) shares rose early Friday after the rocket and satellite company agreed to acquire a nationwide low-band spectrum portfolio from investment firm Grain Management as it seeks to establish Starlink Mobile as a major US mobile carrier. SpaceX will buy Grain Management's entire portfolio of up to 14 megahertz of paired spectrum in the 800 MHz band, the companies said in separate statements late Thursday. The deal is subject to the Federal Communications Commission's approval and other customary closing conditions. SpaceX's stock gained 3.7% in the most recent premarket activity. The companies did not disclose the financial terms, and neither immediately responded to MT Newswires' request for comment on the reported transaction value. SpaceX will pay about $8 billion in cash for the assets, The Wall Street Journal reported Thursday, citing people familiar with the matter. Grain Management, which specializes in digital infrastructure, acquired the 800 MHz spectrum portfolio from T-Mobile US (TMUS) in August in exchange for $2.9 billion in cash and all of Grain's 600 MHz spectrum licenses. "This prime low-band spectrum addresses one of the key remaining technical gaps that will pave the way for Starlink Mobile to become a major mobile carrier in the US," SpaceX said in its statement. Following regulatory approval, SpaceX intends to combine its satellite-to-mobile constellation in space with a terrestrial deployment that will enable Starlink Mobile's signals and services to reach customers from both the ground and space, according to the companies. SpaceX said most existing mobile devices already support the band. "Our spectrum expertise allows us to connect the strategic value of these assets with the technologies and operators that can realize their potential," Grain Management Chief Executive David Grain said in a separate statement. "This agreement with SpaceX brings that capability to bear at extraordinary scale." Shares of Verizon Communications (VZ), AT&T (T)

AT&T INC. <T.N>: SCOTIABANK CUTS TARGET PRICE TO $26.5 FROM $27.5

AT&T INC. : SCOTIABANK CUTS TARGET PRICE TO $26.5 FROM $27.5

Starlink Targets the US Mobile Communication Market, SpaceX (SPCX.US) Opens New Growth Opportunities: Wall Street Focuses on the Reshaping of the Telecom Industry Landscape

Combining the existing satellite capacity, SpaceX is supplementing its capabilities to upgrade from “occasional emergency connectivity” to “daily mobile service.” The satellite network provides wide-area coverage and fills ground blind spots, while low-frequency terrestrial networks improve connectivity inside buildings and in environments with complex obstructions. The two form a complement to each other.

The Decisive Significance of Next Week's U.S. CPI: Will the Federal Reserve Hold Off on Raising Interest Rates in October?

Barclays and Morgan Stanley both expect the month-on-month increase in core CPI for September to slow from 0.29% in August to 0.24%, mainly due to a decline in the price increase of wireless communication services. Energy is driving overall inflation, but the marginal core pressure is easing, providing justification for the Federal Reserve to keep rates unchanged in October.

SpaceX's Mobile Network Expansion Won't Hurt Incumbents in Near Term - Market Talk -- Market Talk

0914 GMT - Space X's accelerated efforts to build a mobile network won't pose a near-term risk to U.S. incumbents, JPMorgan's Sebastiano Petti writes. The Elon Musk-run company agreed to buy cellular spectrum licenses from investment firm Grain Management, a significant move into the wireless service market. However, risk to established players is limited given the time and capital expenditure SpaceX needs to become more competitive, the analysts says. However, sentiment could turn against incumbents as investors adjust to the presence of a new entrant, Petti adds. Telecoms shares fall sharply in the U.S. premarket and Europe. T-Mobile shares drop 6.9% premarket, while Verizon and AT&T drop 5.8% and 6.5%, respectively. In Europe, Deutsche Telekom shares drop 7.6%. (josephmichael.stonor@wsj.com) (END) Dow Jones Newswires October 09, 2026 05:15 ET (09:15 GMT)

BUZZ-U.S. telecom stocks fall after SpaceX reaches spectrum agreement

October 9th - SpaceX (SPCX.O) has reached an agreement to acquire a portfolio of nationwide low-frequency spectrum licenses, enabling Starlink Mobile to become a major telecom operator in the US, causing a pre-market decline in US telecom stocks. T-Mobile (TMUS.O) shares fell by 6.3%, AT&T by 5.7%, and Verizon (VZ.N) by 5.1%. According to The Wall Street Journal, citing sources familiar with the matter, SPCX will pay about 8 billion USD in cash to the seller, private equity firm Grain Management, to acquire the asset. The financial terms of the agreement have not yet been disclosed by either party. This deal increases competition for traditional carriers, transforming satellite direct-to-device technology from a supplementary safety feature for remote signal dead zones into a full-fledged commercial competitor replacing terrestrial cellular networks. "Although the three major carriers (T, TMUS, VZ) face a more concrete competitive threat due to their weak performance among high-speed data users (HSDs), this is not entirely unexpected and will most likely begin in rural areas," said Morgan Stanley. So far this year, TMUS is down 15.6%, VZ is up 13.7%, and T is slightly up. European telecom stocks were also impacted, including Germany’s Deutsche Telekom (DTEGn.DE). (To facilitate non-English-speaking users, Reuters automates its reports into several other languages. As automated translations may be inaccurate or lack required context, Reuters does not guarantee the accuracy of automated translations, which are provided solely for reader convenience. Reuters assumes no liability for any harm or loss arising from use of this automated translation feature.)

Elon Musk says the 800MHz band trade is an earthquake, three major telecom stocks plummet after hours

Elon Musk announced that SpaceX has obtained the 800MHz frequency band, calling it an industry earthquake. This move caused the stocks of telecom giants such as AT&T and Verizon to plummet significantly after hours, while SpaceX’s share price rose against the trend. The market is concerned that satellite mobile communications will disrupt the traditional landscape.

Tech, Media & Telecom Roundup: Market Talk

The latest Market Talks covering Technology, Media and Telecom. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET. 0629 GMT - Semiconductor companies are set to voice confidence during the upcoming earnings season despite concerns over the sustainability of AI infrastructure spending, Bernstein analysts say in a research note. AI investments are now so massive and are approaching major and hard limits that can't be simply explained by supply and demand, they say. Rising borrowing costs, increasing safety and environmental concerns as well as regulatory guardrails could trigger a deceleration in semiconductor demand. However, signals from the upstream semiconductor supply chain continue to point to unabated AI demand and continued shortage, they say. Bernstein still holds a positive view on the upcoming earnings results and outlooks offered as some of the concerns above have been priced in the recent correction. (sherry.qin@wsj.com) 0305 GMT - Taiwan Semiconductor Manufacturing Co.'s revenue is likely to be driven by continued growth in AI demand and resilient high-end smatphone demand, Bernstein says. TSMC's 3Q revenue at 1.49 trillion New Taiwan dollars, calculated based on its monthly revenue, is 3% above the market consensus, Bernstein analysts say. The firm expects TSMC's revenue in U.S. dollar terms to increase 41% this year. Investors will be focusing on TSMC's 2-nanometer production increase, potential further expansion in the U.S. and its 2027 outlook when the chip maker announces its full 3Q earnings Thursday, the analysts say. Bernstein sees an upside risk to its current projection that TSMC's revenue will grow 30% annually in 2027 and 2028. Shares are 1.35% lower at NT$2,550.00. (sherry.qin@wsj.com) 0214 GMT - Selected mobile stocks, particularly those offering attractive dividend yields, could recover over the next 12 months as uncertainty over the companies' financial impact from their stakes in Malaysia's state-backed 5G infrastructure firm Digital Nasional eases, Mayban

SpaceX Acquires Low-Frequency Spectrum with Massive Investment, Enters Mobile Operator Market; US Telecom Stocks Plummet

SpaceX announced the acquisition of 800MHz low-band spectrum covering the entire U.S. and has been authorized by the FCC to deploy 15,000 direct-to-cell satellites, officially declaring its independent entry into the U.S. mobile carrier market. Following the news, AT&T, T-Mobile, and Verizon all fell by more than 6% after hours. With $93.5 billion in cash and 12 million Starlink subscribers, Elon Musk is using this "final piece of the puzzle" to reshape the competitive landscape of the entire telecommunications industry.

Market Chatter: Trump Disclosed 517 Securities Transactions in August, Including Up to $25 Million Meta Purchase

07:12 PM EDT, 10/08/2026 (MT Newswires) -- President Donald Trump disclosed 517 securities transactions in August, including a purchase of up to $25 million in Meta stock and an investment of up to $5 million in SpaceX debt two days before he signed a policy to expand U.S. commercial space transportation, CNBC reported Thursday, citing a newly released financial disclosure. The transactions totaled roughly $74.3 million to $273.3 million, according to a CNBC analysis. Purchases accounted for at least $44.2 million and sales at least $30.1 million. The largest transaction was an Aug. 21 purchase of between $5 million and $25 million in Meta shares, the report said. Trump also bought between $1 million and $5 million each of AT&T, ConocoPhillips, Abbott Laboratories, Netflix and Chevron that day. On Aug. 21, he sold between $1 million and $5 million each of Advanced Micro Devices and Church & Dwight, along with stakes worth between $500,001 and $1 million in companies including Boeing, Home Depot, T-Mobile, Datadog, Dell Technologies, Palo Alto Networks and Nvidia, according to the report. Trading slowed from June and July, when he disclosed more than 1,000 transactions in each month, the report said. (Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Updated Version 4 - SpaceX Targets U.S. Wireless Operators Through Spectrum Acquisition

The U.S. Federal Communications Commission (FCC) has approved Starlink Mobile Gen2's application to launch 15,000 satellites. Low-frequency radio waves can expand coverage and enhance signal penetration through walls and tree canopies, improving indoor reception. The share prices of T-Mobile, Verizon, and AT&T each fell by nearly 7% in after-hours trading. On October 8, Reuters reported that SpaceX reached an agreement on Thursday to acquire a nationwide portfolio of low-frequency spectrum, enabling Elon Musk's satellite company to directly challenge giant traditional wireless carriers across the United States from orbit. While Starlink Mobile’s existing global 2 GHz mid-band spectrum offers high bandwidth capacity, the new spectrum will allow signal penetration through obstacles. Financial terms of the deal were not disclosed. Low-frequency bands are favored for their longer transmission ranges and ability to penetrate dense structures like walls and tree cover—addressing a major technical challenge previously faced by satellite-based mobile networks. By combining nationwide low-frequency radio coverage with high-frequency space transmission, SpaceX is positioning Starlink Mobile to entirely bypass traditional cell towers, challenging the wireless oligopoly both in wide-area coverage and indoor signal reliability. This deal also increases competitive pressure on traditional operators, shifting direct-to-device satellite technology from a supplementary feature for remote dead spots to a comprehensive commercial rival to terrestrial cellular networks. The share prices of T-Mobile US, Verizon, and AT&T each dropped nearly 7% in after-hours trading. “Incumbent wireless carriers have been publicly skeptical, arguing that SpaceX’s network quality could not match theirs,” said analysts at William Blair. “We expect SpaceX to launch very attractive bundled packages of Starlink broadband with Starlink Mobile, and the company may include Grok in these bundles.” The deal involves acquiring 100% of a nationwide 800 MHz spectrum portfolio from private equity firm Grain Management, pending regulatory approval from the FCC. Earlier this year, Grain had acquired this spectrum from T-Mobile. Crucially, most existing, unmodified mobile phones already support the 800 MHz band, so consumers will not need to purchase special satellite phones. This week, the FCC also approved Starlink Mobile’s application for its second-generation satellite constellation, authorizing SpaceX to launch 15,000 satellites worldwide optimized for the 2 GHz band. This new satellite array will operate in very low Earth orbit, providing regular smartphones with higher bandwidth and low-latency connections.

SpaceX Is Crashing the Wireless Party. Telecom Stocks Are Paying the Price. -- Barrons.com

By Al Root SpaceX announced a wireless spectrum acquisition late Thursday, stoking fears of wireless telecom disruption and sending shares of AT&T and its peers lower. The agreement, with Grain Management, would give SpaceX a nationwide low-band spectrum license portfolio of up to 14 megahertz of paired spectrum in the 800 MHz band. "This prime low-band spectrum addresses one of the key remaining technical gaps that will pave the way for Starlink Mobile to become a major mobile carrier in the U.S.," said the company in a news release. That's competition for the traditional industry. AT&T stock was down 7% in after-hours trading. Verizon Communications and T-Mobile shares were both off about 6.6%. Shares of wireless infrastructure provider Crown Castle and American Tower, however, were up almost 9% and 6%, respectively. It appears that SpaceX needs terrestrial infrastructure, too. "Starlink Mobile's flexible, hybrid architecture will leverage both terrestrial and satellite technology to ensure all Americans have high-speed mobile broadband," reads part of the agreement. Grain Management has historical relationships with wireless tower providers. The deal is significant for the wireless industry. SpaceX isn't content to only offer broadband service. It appears to want to control the phone, too. Spectrum assets are becoming more valuable as space-based communications options proliferate. Spectrum is a finite resource. Just as two radio stations in an area can't broadcast on the same frequency, wireless data providers need their own spectrum to avoid running into one another. Comcast stock was down 1.9% in after-hours trading. Cable companies also offer wireless service, partly to offset losses in their broadband business to wireless companies that offer internet to the home. The wireless industry is changing -- with SpaceX at the heart of the disruption. Write to Al Root at allen.root@barrons.com. This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow

Updated version 3 - SpaceX aims at US wireless carriers through spectrum acquisition

Reuters, October 8 – SpaceX (SPCX.O) reached an agreement on Thursday to acquire a nationwide portfolio of low-frequency spectrum, enabling Elon Musk’s satellite company to directly challenge traditional US wireless giants at the orbital level. While Starlink Mobile’s current global 2 GHz mid-band spectrum provides high bandwidth capacity, the new spectrum will allow its signals to penetrate obstacles. The financial terms of the agreement were not disclosed. Low-frequency bands are highly sought after for their longer transmission distance and ability to penetrate dense structures such as walls and tree cover, helping to solve a major technical obstacle previously faced by satellite-based mobile networks. By combining nationwide low-frequency radio waves with high-frequency space transmission capabilities, SpaceX is positioning Starlink Mobile as a service that can completely bypass traditional base stations and challenge the wireless oligopoly both in terms of broad coverage and reliable indoor signal. The deal intensifies competitive pressure on traditional carriers, transforming satellite direct-to-device technology from a supplementary safety feature for remote dead zones into a full-fledged commercial competitor capable of replacing terrestrial cellular networks. Shares of T-Mobile US (TMUS.O), Verizon (VZ.N), and AT&T (T.N) all fell more than 6.5% in after-hours trading. The transaction involves acquiring 100% of the nationwide 800 MHz spectrum portfolio held by private equity firm Grain Management, pending regulatory approval from the Federal Communications Commission (FCC). Grain acquired this spectrum earlier this year from T-Mobile. Crucially, most existing, unmodified mobile phones already support the 800 MHz band, so consumers do not need to purchase dedicated satellite phones. The FCC this week also approved Starlink Mobile’s application for its second-generation satellite constellation, authorizing SpaceX to launch 15,000 satellites worldwide optimized for the 2 GHz band. This new constellation will operate in very low Earth orbit, providing ordinary phones with broader bandwidth and low-latency connections. (For the convenience of non-native English speakers, Reuters automatically translates its reports into several other languages. Automated translations may contain inaccuracies or lack necessary context; Reuters does not guarantee the accuracy of automated translation and provides it solely as a convenience for readers. Reuters is not liable for any damage or loss resulting from the use of automated translation.)

Updated Version 2 - SpaceX Targets U.S. Wireless Operators Through Spectrum Acquisition

Reuters, October 8 – SpaceX reached an agreement on Thursday to acquire a nationwide portfolio of low-frequency spectrum, enabling Elon Musk’s satellite business to mount direct orbital competition against traditional U.S. wireless telecom giants. While Starlink Mobile’s existing global 2 GHz mid-band spectrum will provide high bandwidth capacity, this new spectrum will allow its signals to penetrate obstacles. The financial terms of the deal have not been disclosed. This move accelerates billionaire Musk’s ambitions to bypass traditional wireless infrastructure and provide direct cellular network connections to smartphones from orbit. Low-frequency bands are highly valued in telecommunications for their ability to travel longer distances and penetrate dense structures such as walls and tree cover, thereby overcoming a major technical barrier previously faced by satellite mobile networks. The transaction involves the acquisition of 100% of the nationwide 800 MHz spectrum portfolio held by private equity firm Grain Management and is still subject to regulatory approval from the U.S. Federal Communications Commission (FCC). Telecom stocks fell as investors feared competition from SpaceX could trigger a fierce price war and erode their market share in the already saturated U.S. wireless market. The shares of T-Mobile US, Verizon, and AT&T all dropped more than 5% in after-hours trading. The FCC this week also approved Starlink Mobile’s application for a second-generation satellite constellation, authorizing SpaceX to launch 15,000 satellites worldwide optimized for the 2 GHz band. (For the convenience of non-native English speakers, Reuters automatically translates its reports into several other languages. As automated translation may contain errors or may lack required context, Reuters does not guarantee the accuracy of automated translation texts; they are provided solely for readers’ convenience. Reuters assumes no responsibility for any damages or losses resulting from the use of automated translation features.)

SpaceX will acquire a portfolio of nationwide mobile communication low-frequency spectrum licenses

US telecom service providers fell in after-hours trading, with T-Mobile, Verizon, and AT&T dropping more than 5%. News reports indicate that SpaceX will acquire a portfolio of low-band frequency spectrum licenses used for mobile communications across the US.

Updated version 1 - SpaceX will acquire spectrum to enable Starlink mobile services

Reuters, October 8 - SpaceX announced on Thursday that it has reached an agreement to acquire a portfolio of low-band spectrum licenses covering the entire United States, which will make Starlink Mobile a major telecom operator in the country. While Starlink Mobile’s existing global 2 GHz mid-band spectrum enables high bandwidth capacity in the US, the new spectrum will allow its signals to penetrate obstacles. After-hours trading saw T-Mobile US shares fall by 2.7%, while Verizon and AT&T shares dropped by 3% and 3.6%, respectively. (For the convenience of non-English speakers, Reuters provides automated translations of its reports in several other languages. However, as these automated translations may be inaccurate or fail to capture necessary context, Reuters does not guarantee the accuracy of such translations, which are offered solely for the convenience of readers. Reuters accepts no responsibility for any damages or losses arising from the use of its automated translation service.)

AT&T, GIP and CPP Investment to Form US Fiber Joint Venture

08:49 AM EDT, 10/06/2026 (MT Newswires) -- AT&T (T), BlackRock's (BLK) Global Infrastructure Partners and Canada Pension Plan Investment Board have agreed to form a US new joint venture that will operate as a leading wholesale fiber commercial open access company to accelerate fiber builds in more communities, AT&T said Tuesday. The JV will include Forged Fiber 37 -- the AT&T unit that houses the fiber build engine network assets and operations the company acquired from Lumen -- as well as Gigapower -- AT&T's existing wholesale fiber JV with GIP, AT&T said.

--AT&T, GIP, CPP Investments to Form US Fiber JV

08:39 AM EDT, 10/06/2026 (MT Newswires) -- AT&T, GIP, CPP Investments to Form US Fiber JV

AT&T, BlackRock’s GIP and CPP Investments form US wholesale fiber joint venture

AT&T agreed to form a U.S. wholesale fiber open-access joint venture with Global Infrastructure Partners, a BlackRock unit, and CPP Investments. Venture will combine Forged Fiber 37, built from assets acquired from Lumen, with Gigapower, its existing wholesale fiber JV with GIP. Ownership split set at 50% for AT&T; GIP and CPP Investments to hold the remaining 50% collectively. Transaction expected to close in the first half of 2027, subject to regulatory approvals. Deal targets faster fiber expansion toward more than 60 million fiber locations by end-2030; AT&T expects cash proceeds at closing. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. AT&T Inc. published the original content used to generate this news brief via CNW (Ref. ID: 202610060831CANADANWCANADAPR_C4431) on October 06, 2026, and is solely responsible for the information contained therein.

Plaintiffs’ lawyers in AT&T class actions win $59 million legal fee award

By Mike Scarcella WASHINGTON, Oct 5 (Reuters) - A federal judge has approved $59 million in legal fees for lawyers who negotiated $177 million in class action settlements with AT&T T.N over data breaches in 2024 that exposed the personal information of tens of millions of customers. Here are the details: US District Judge Sidney Fitzwater in Dallas said the settlements were fair and approved them on Friday over objections to the scope of AT&T's payments and the lawyers' fees One group of lawyers, including Houston-based Mark Lanier, were awarded $49.7 million, and a second group will receive $9.3 million Eligible customers can receive up to $2,500 or $5,000 from the settlements The deals faced dozens of objections, including that AT&T's agreement paled in comparison to a $350 million settlement in related data-breach litigation against T-Mobile Some objectors also claimed that AT&T negotiated with the least effective attorneys in order to secure a weak settlement in a so-called reverse auction. The plaintiffs' lawyers have defended the settlement and denied the claim Law firms BakerHostetler and Skadden Arps represented AT&T, which denied any wrongdoing in agreeing to settle. The company did not immediately respond to a request for comment Read more: Rival lawyers clash over fees after $2.8 billion Blue Cross settlement Judge in Google privacy class action awards lawyers $147 million in legal fees Law firm Motley Rice's fee for Meta case in New Mexico could top $67 million (Reporting by Mike Scarcella)

AT&T INC. <T.N>: SCOTIABANK CUTS TARGET PRICE TO $27.50 FROM $29.25

AT&T, T-Mobile, Verizon form joint venture to expand US coverage, cut dead zones