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7m ago

Verizon and AST SpaceMobile Sign Definitive Deal for Direct-to-Phone Satellite Service Starting Next Year

The pact extends Verizon’s 850 MHz spectrum via AST satellites to reach U.S. areas beyond terrestrial coverage.

FILE - This April 23, 2018, file photo shows the logo for Verizon above a trading post on the floor of the New York Stock Exchange. (AP Photo/Richard Drew, File)
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Overview

  • AST SpaceMobile said the agreement expands on the companies’ 2024 partnership, with financial terms not disclosed.
  • Verizon described the integration of its terrestrial network with AST’s space-based system as a step toward broader connectivity regardless of geography.
  • AST said its network is built to use premium low-band spectrum, its licensed L-band and S-band, and up to 1,150 MHz of partners’ low- and mid-band spectrum.
  • AST SpaceMobile shares rose more than 10% in early trading after the announcement, while Verizon shares edged higher.
  • The deal was announced two days after Verizon named Dan Schulman as CEO, succeeding Hans Vestberg, who will remain as a board member and adviser.