AT&T CEO holds firm stance on Elon Musk's SpaceX phone strategy

SpaceX (SPCE) agreed to buy Grain Management's 800 MHz spectrum for $6B, pending FCC approval. Elon Musk stated SpaceX could be worth more than the $118T global economy. AT&T (T), Verizon (VZ), and T-Mobile (TMUS) shares fell 10-13% on the news. Analysts expect SpaceX's revenue to quadruple by 2028, reaching $200B, but debt concerns remain.

AT&T has agreed to a $177M settlement for two data breaches affecting millions of customers. The settlement includes $149M and $28M funds. Payments up to $7,500 may be disbursed to approved claimants, with tiers ranging from $39 to $8.10 based on breach impact. The court approved the settlement last week, and payments could be sent within 60 days.

Verizon (VZ), AT&T (T), and T-Mobile (TMUS) shares fell over 10% on Friday, their worst one-day drops in years, due to concerns about SpaceX's (SPCX) potential entry into the wireless market. SpaceX announced plans to acquire low-band spectrum, which could enable its Starlink Mobile service to compete with major carriers. Analysts are divided on the immediate threat, but all agree it's a negative development for the incumbents.

A federal judge finalized AT&T's $177 million settlement for 2024 data breaches affecting millions. Payments, ranging from $6.50 to $5,000, will be distributed by early January 2027 to eligible claimants who submitted forms by December 2025.

A federal judge approved AT&T's $177 million settlement for data breaches affecting millions of customers. Affected individuals may receive up to $5,000 or $2,500, depending on the breach. Most eligible customers are expected to get $6.50 to $40, with payments to be distributed within 60 days post-appeals period.

A federal judge approved AT&T's $177M settlement for two data breaches. Affected customers may receive up to $7,500 if they prove financial losses, or smaller payments of $6.50 to $40. AT&T denies wrongdoing.