SpaceX has acquired Grain Management’s 800 MHz spectrum portfolio for its Starlink Mobile service, moving closer to providing robust terrestrial coverage in dense urban areas. Shares of tower operators Crown Castle, American Tower and SBA Communications surged 6% to 12% on Friday morning, while traditional carriers AT&T, Verizon and T-Mobile fell sharply, with T-Mobile down roughly 10%. This acquisition challenges the narrative that towers are obsolete in a satellite connectivity world, with analysts noting that such expansion would still require terrestrial infrastructure. Crown Castle, which has lost 55% over five years and offered a 5.5% yield at around $77 per share, could see its dividends bolstered by contracts with SpaceX.
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