AT&T has agreed to purchase certain wireless spectrum licenses from EchoStar for approximately $23 billion in cash. The acquisition includes about 50 MHz of low-band and mid-band spectrum, specifically adding 30 MHz of 3.45 GHz mid-band and 20 MHz of 600 MHz low-band across more than 400 U.S. markets. This deal is intended to strengthen AT&T's 5G and fixed wireless network buildout, significantly expanding its low- and mid-band coverage. The transaction is subject to regulatory approval by the Federal Communications Commission (FCC) and is expected to close by mid-2026. EchoStar will continue operating Boost Mobile as a hybrid mobile network operator following the sale. The agreement comes amid ongoing federal regulatory scrutiny of EchoStar and follows President Donald Trump's urging for the deal. EchoStar's stock surged more than 75% following the announcement, reflecting market optimism. The sale also helped to alleviate some of the regulatory pressures on EchoStar and substantially improved the net worth of its chairman, Charles Ergen, who saw his wealth double as a result of the transaction. Meanwhile, Elon Musk's Starlink and T-Mobile have expressed interest in acquiring some of EchoStar's remaining spectrum assets after the AT&T deal. The move follows AT&T's recent $7.6 billion sale of DirecTV, marking a strategic shift away from media assets to focus on network expansion.