00:00On the same news, AT&T fell 10.9 percent, and Crown Castle rose 15.6.
00:06One story, opposite directions.
00:09AT&T down 10.9, Verizon down 10.1, T-Mobile down 13.3.
00:15Crown Castle up 15.6, American Tower up 9.4, SBA Communications up 7.4.
00:24Here is the logic the market applied.
00:26SpaceX bought low-band spectrum for a terrestrial layer.
00:30Because satellites alone do not reach inside buildings.
00:34A terrestrial layer means radios, and radios need somewhere to sit.
00:38If a new entrant builds one, tower operators gain a tenant.
00:42The carriers gain a competitor.
00:45What is established is that the market repriced both sides in one session.
00:49What is not established is that a single new tower lease has been signed.
00:54The deal still needs regulatory approval.
