Wireless Carriers' Day of Woe After SpaceX Spectrum Deal -- WSJ
Dow Jones2026/10/09 18:16By Patience Haggin Shares in AT&T, Verizon Communications and T-Mobile US fell sharply Friday in the wake of SpaceX's $8 billion spectrum deal, the Elon Musk-led company's biggest move yet into the wireless market. By early afternoon AT&T and Verizon were on track for their biggest one-day declines in more than 24 years. For T-Mobile, it would be the worst percentage drop in more than 13 years. SpaceX said Thursday it had agreed to buy cellular spectrum licenses from investment firm Grain Management-specifically, spectrum that can cover places satellite links can't reach, like inside buildings. SpaceX has said it wants to move its Starlink satellite service beyond broadband, and this acquisition could make it a more serious threat to the leading consumer wireless carriers. Starlink already provides internet connectivity via thousands of satellites in low-Earth orbit, as well as basic wireless connections in remote areas through a T-Mobile partnership. This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage). (END) Dow Jones Newswires October 09, 2026 14:16 ET (18:16 GMT)
By Patience Haggin
Shares in AT&T, Verizon Communications and T-Mobile US fell sharply Friday in the wake of SpaceX's $8 billion spectrum deal, the Elon Musk-led company's biggest move yet into the wireless market.
By early afternoon AT&T and Verizon were on track for their biggest one-day declines in more than 24 years. For T-Mobile, it would be the worst percentage drop in more than 13 years.
SpaceX said Thursday it had agreed to buy cellular spectrum licenses from investment firm Grain Management-specifically, spectrum that can cover places satellite links can't reach, like inside buildings. SpaceX has said it wants to move its Starlink satellite service beyond broadband, and this acquisition could make it a more serious threat to the leading consumer wireless carriers.
Starlink already provides internet connectivity via thousands of satellites in low-Earth orbit, as well as basic wireless connections in remote areas through a T-Mobile partnership.
This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).
(END) Dow Jones Newswires
October 09, 2026 14:16 ET (18:16 GMT)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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