SpaceX to acquire nationwide 800MHz spectrum portfolio pending FCC approval

SpaceX rose nearly 3% after hours as the company acquired low-frequency spectrum, targeting US wireless carriers.

TD Bank has received approval to carry out a share repurchase program with a maximum amount of 10 billions Canadian dollars. This approval reflects TD Bank’s strong confidence in its own long-term fundamentals, and the bank will flexibly arrange the specific pace of the repurchase based on factors such as market conditions and its own operations.

U.S. Department of Defense: Raytheon has been awarded a multi-year contract worth $6.3 billions for SM-3 IB interceptors.

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.)