{"id":650380,"date":"2026-10-10T07:56:13","date_gmt":"2026-10-10T07:56:13","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/650380\/"},"modified":"2026-10-10T07:56:13","modified_gmt":"2026-10-10T07:56:13","slug":"verizon-att-and-t-mobile-sell-off-on-spacex-u-s-network-plans","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/650380\/","title":{"rendered":"Verizon, AT&T and T-Mobile sell off on SpaceX U.S. network plans"},"content":{"rendered":"

Telecommunications stocks sold off on Friday after Elon Musk<\/a>‘s SpaceX<\/a> announced an agreement to purchase a nationwide spectrum portfolio<\/a>, aiming to expand its Starlink internet into mobile service.<\/p>\n

Verizon<\/a> closed down 8.75% on the news, its worst day since July 2002. Shares of T-Mobile<\/a> dropped 13.27% while AT&T<\/a> fell 9.81%, each notching their own worst days since 2013 and 2000, respectively.<\/p>\n

SpaceX stock climbed slightly, around 1% for the day. <\/p>\n

The deal includes acquiring the spectrum from Grain Management, which SpaceX described as a “license portfolio of up to 14 megahertz of paired spectrum in the 800 MHz band,” in a Thursday statement. <\/p>\n

FCC Chair Brendan Carr, whose agency will oversee approval of the deal, said that competition in the spectrum market was “really good news for the American consumers” in a CNBC interview. <\/p>\n

“We’re probably going to bring over $100 billion of spectrum into the market over the next two years, so we’re seeing a lot of competition,” Carr told CNBC’s “Squawk on the Street<\/a>” on Friday. <\/p>\n

“There’s going to be moves in the market. People are going to try to out-compete, out-innovate, and I think that’s great. We’re going to see how this plays out. It’s not for us ultimately to pick winners and losers,” he added. <\/p>\n

Multiple SpaceX analysts lauded the new spectrum deal, with Evercore ISI writing that the rocket maker “now has the outline of a real network” alongside its existing satellite capabilities. JPMorgan wrote that the acquisition made Starlink Mobile’s long-term opportunity “more credible.”<\/p>\n

“That said, we continue to see limited near-term risk to U.S. wireless incumbents given the time, infrastructure and capital required to build a competitive terrestrial network,” analysts added in a Friday note. <\/p>\n","protected":false},"excerpt":{"rendered":"Telecommunications stocks sold off on Friday after Elon Musk‘s SpaceX announced an agreement to purchase a nationwide spectrum…\n","protected":false},"author":2,"featured_media":650381,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23],"tags":[43787,726,122,605,61,206,60,153065,82,247,208119,29477,80,2406,26080],"class_list":["post-650380","post","type-post","status-publish","format-standard","has-post-thumbnail","category-space","tag-att-inc","tag-breaking-news-technology","tag-business-news","tag-elon-musk","tag-ie","tag-internet","tag-ireland","tag-ishares-u-s-telecommunications-etf","tag-science","tag-space","tag-space-exploration-technologies-corp","tag-t-mobile-us-inc","tag-technology","tag-telecommunications","tag-verizon-communications-inc"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/650380","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=650380"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/650380\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/650381"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=650380"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=650380"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=650380"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}