What Happened? Shares of telecommunications conglomerate AT&T (NYSE:T) fell 6.8% in the pre-market session after SpaceX struck a definitive agreement to acquire Grain Management's nationwide 800 MHz spectrum portfolio for an estimated $8 billion, raising competitive concerns across legacy wireless providers. Grain Management announced that the transaction covers 100% of its nationwide 800 MHz licenses, delivering up to 14 MHz of paired low-band spectrum subject to Federal Communications Commission approval. In comments on X, SpaceX Chief Executive Elon Musk termed the airwaves the last critical piece of the spectrum puzzle required to offer complete mobile coverage in America, as existing smartphones already support the 800 MHz band.
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