What Happened? Shares of satellite radio and media company Sirius XM (NASDAQ:SIRI) jumped 2.7% in the morning session after market participants linked SpaceX's $8 billion deal for Grain Management's spectrum portfolio to the value of the company's licensed satellite spectrum. According to StreetInsider, SpaceX agreed to pay $8 billion for up to 14 MHz of paired 800 MHz spectrum from Grain Management, a portfolio that came from T-Mobile and still needs FCC approval. That price works out to about $571 million per megahertz. The deal was announced after Thursday's close. Elon Musk called it the last piece SpaceX needed for full phone coverage in the U.S.
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