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AT&T to Buy $23 Billion in EchoStar Spectrum, Reshaping U.S. Wireless

Approval is targeted for mid-2026, allowing AT&T to lease the airwaves before closing.

FILE - In this Oct. 24, 2016, file photo, the AT&T logo is positioned above one of its retail stores, in New York. (AP Photo/Mark Lennihan, File)
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Overview

  • The purchase covers roughly 50 MHz of nationwide spectrum—about 30 MHz at 3.45 GHz mid-band and 20 MHz at 600 MHz low-band—across more than 400 U.S. markets.
  • AT&T said the additional airwaves will bolster its 5G network and support broader fixed wireless and home internet expansion.
  • EchoStar and AT&T amended their services pact so Boost Mobile operates as a hybrid MNO primarily on AT&T’s network, with elements of Boost’s own radio access network to be decommissioned over time.
  • The transaction requires regulatory approval and is slated to close in mid-2026, following FCC scrutiny of EchoStar’s spectrum use that included complaints from SpaceX; AT&T may lease the licenses before completion.
  • EchoStar plans to use the proceeds to retire debt and fund operations, and its shares surged about 75% to 80% after the announcement.