AT&T acquires licenses for a broadband spectrum from EchoStar for $23 billion

• AT&T invests $23 billion in licenses from EchoStar.
• The agreement covers over 400 markets in the U.S.
• EchoStar will become a hybrid operator under the Boost Mobile brand.

AT&T announced plans to acquire licenses for broadband spectrum from EchoStar for $23 billion. This agreement will allow AT&T to expand its coverage network in the U.S., covering more than 400 markets.

According to the information, the agreement also includes a long-term deal with EchoStar, which will become a hybrid mobile operator under the Boost Mobile brand. AT&T will be the primary partner for providing network services for EchoStar.

AT&T's CEO John Stankey stated that this agreement enhances the spectrum portfolio of the company, including 5G and internet service for consumers. AT&T plans to accelerate the expansion of its optical network to 50 million addresses by the end of 2029.

In 2024, AT&T forecasts the completion of the modernization of its 5G network by 2027, which will ensure high-speed internet access and support new innovations. EchoStar's shares rose by 76% following the announcement of the agreement, while AT&T's shares increased by 1%.

Tags: USA/Economy/Technology