Elon Musk Just Delivered Great News to SpaceX Investors and Bad News to Traditional Telecom Investors
SpaceX is purchasing a portfolio of low-band spectrum licenses.
Overview
Space Exploration Technologies Corp (NASDAQ:SPCX) recently announced plans to acquire a low-band spectrum portfolio that will better enable it to broadcast the internet through walls and other solid structures.
SpaceX is acquiring the portfolio from the communications infrastructure company Grain Management for reportedly $8 billion. The deal requires regulatory approval from the U.S. Federal Communications Commission.
Details
In a statement, SpaceX said the acquired portfolio contains up to 14 megahertz of paired spectrum in the 800 MHz band.
Source
Originally published at www.fool.com.
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