AT & T Wireless Spectrum Licenses from Echostar is grabbed for $ 23 billion

AT & T It will spend $ 23 billion to acquire some wireless spectrum licenses from Echostar, which is a large expansion of low and medium coverage networks in AT & T.

AT & T said on Tuesday that the licenses cover almost every American market – more than 400 total – which the company plans to publish as soon as possible to attract more Internet subscribers at home and achieve growth goals.

The deal also works to fortify the long -term service agreement between AT & T and Echostar, enabling the latter to work as a mixed mobile phone network that provides wireless service within its mobile phone brand. AT & T will be the primary partner for network services in Echostar.

Echostar shares, based in Englewood, Colorado, increased by 76 % in the opening bell on Tuesday.

“This acquisition is strengthened and our spectrum wires widens while enhancing the wireless internet and home experience for customers in more markets,” said AT & T CEO. “We add fuel to our winning strategy of investing in wireless and broad -range assets to become the best communication provider in America.”

In late 2024, AT & T said it would expand its wide fiber network to more than 50 million sites by the end of 2029, while actively works to get out of the old copper network operations through most of the wireless imprint.

AT & T expects to largely complete its 5G wireless network update with open technology by 2027. The company said that the network will be able to support high download speeds and work as a platform for the new product and Genai innovation.

In the latest profit report in July, AT & T said that she expects to achieve up to $ 8 billion in cash tax savings from 2025 to 2027 due to tax provisions in the law of one beautiful bill for Republicans. AT & T estimated that she would invest $ 3.5 billion of these savings in its network to accelerate the construction of the Internet fiber.

AT & T shares, based in Dallas, rose less than 1 % on Tuesday.