AT&T acquires EchoStar spectrum licenses for ~$23B, boosting 5G and fiber capabilities

AT&T INC.

Total cash consideration ~$23B for 600 MHz and 3.45 GHz licenses covering virtually every U.S. market.
Minimum purchase price set at $18.6B; closing requires HSR and FCC approvals within 12 months, extendable.
AT&T reiterates full-year 2025 guidance and plans $20B share repurchase capacity for 2025-2027.
Extended wholesale network agreement lets EchoStar operate as hybrid MNO under Boost Mobile brand.

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