FCC Move Lets Satellite TV Players Offer Mobile Service
The U.S. Federal Communications Commission allocated new spectrum for wireless transmissions, which should immediately benefit satellite TV companies but could benefit most mobile carriers over time.
The move came after years of complaints by the top mobile carriers headed by AT&T Inc. (NYSE:T), which tried to acquire T-Mobile USA in a $39 billion deal that collapsed last year. As a consequence, Dallas-based AT&T had to pay T-Mobile a $3 billion breakup fee and provide another $1 billion worth of spectrum service. The FCC voted 5-0 late Tuesday.
“These actions will help meet skyrocketing consumer demand and promote private investment, innovation and competition, while unlocking billions of dollars in value,” it announced.