AT&T to Buy Spectrum Licenses From EchoStar for About $23b (3)

(Updates shares and adds AT&T share move.)

EchoStar shares are up 58% premarket after AT&T announced an agreement to buy spectrum licenses from the satellite broadband communication company for about $23 billion, adding an average of about 50 MHz of low-band and mid-band spectrum to AT&T’s holdings. AT&T shares are up 0.9%.

• Additions would cover virtually every US market, over 400 in total, positioning AT&T to maintain long-term leadership in advanced connectivity across 5G and fiber
  • Deal powers improved and capital-efficient long-term growth by accelerating AT&T’s ability to add converged subscribers with both 5G wireless and home internet services in ...