SpaceX reportedly climbs after deal to acquire nationwide low-band spectrum portfolio
SPCX•SpaceX shares rose 3.8% premarket after a deal to acquire nationwide low-band spectrum. The company will reportedly pay about $8 billion for the assets, and the transaction requires Federal Communications Commission approval.
1. Spectrum acquisition deal
SpaceX agreed to acquire a nationwide low-band spectrum portfolio from Grain Management to challenge U.S. wireless carriers. The company will reportedly pay about $8 billion for the assets, though the firms have not disclosed the financial terms. The transaction is subject to Federal Communications Commission approval.
2. Starlink service potential
The spectrum could bolster Starlink Mobile’s direct-to-device service and reduce reliance on conventional cell towers. The airwaves can travel long distances and penetrate dense structures, including walls.
