09:45 AM EDT, 08/26/2025 (MT Newswires) -- (Updates with the latest stock price movement in the headline and first paragraph.)

EchoStar ( SATS ) shares jumped 76% in recent Tuesday trading after AT&T ( T ) said it will acquire about 50 MHz of nationwide spectrum from the company in a $23 billion deal covering more than 400 US markets.

The licenses include 30 MHz of 3.45 GHz mid-band and 20 MHz of 600 MHz low-band spectrum, expected to support both 5G and home internet services, AT&T ( T ) said.

The companies also amended their long-term wholesale agreement, making AT&T ( T ) the primary network partner for Boost Mobile under a hybrid mobile network operator model, EchoStar ( SATS ) said.

AT&T ( T ) expects to begin deploying the newly acquired spectrum quickly while maintaining its previously stated capital and fiber expansion targets, it added.

EchoStar ( SATS ) also said the proceeds will help retire debt and support future growth initiatives, while elements of Boost's radio access network will be decommissioned over time.

The transaction, which requires regulatory approval, is expected to close in mid-2026, AT&T ( T ) said.

Price: 28.84, Change: +0.09, Percent Change: +0.31