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AT&T inks $23B deal for spectrum licenses

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AT&T agreed to pay roughly $23 billion for spectrum licenses covering more than 400 U.S. markets.

The seller is EchoStar, a satellite communications company that saw its stock jump more than 40% in premarket trading on the news.

AT&T officials said the purchase would strengthen the company's low-band and mid-band spectrum holdings.

Read more from CNBC.

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