SpaceX seeks 80,000 US cell sites to build wireless carrier
Why it matters: The push could create a fourth nationwide mobile rival, lifting tower stocks and pressuring AT&T, Verizon and T-Mobile shares.
SpaceX is seeking at least 80,000 cell sites across the United States as it works toward launching a nationwide wireless network, according to people familiar with the talks. One company in discussions is Crown Castle, one of the country’s biggest tower owners alongside American Tower and Vertical Bridge Holdings. The deals could be worth billions and would strengthen SpaceX’s bid to become a fourth national mobile carrier. After the report, Crown Castle shares rose as much as 10% in late trading, while AT&T, Verizon Communications and T-Mobile US each fell about 5% on concern over new competition. SpaceX recently acquired low-band spectrum and has FCC approval for 15,000 satellites aimed at direct-to-phone mobile service.