Apr 10, 2017

AT&T is spending $1.6 billion to get key spectrum for 5G

Mike Mozart / Flickr Creative Commons

AT&T announced a big spectrum play on Monday, announcing it will spend $1.6 billion to buy a company called Straight Path Communications.

Of the $1.6 billion, $1.25 billion, or $95.63 per share, will go to Straight Path stockholders, while the remainder covers amounts owed to the FCC and other liabilities. The all-stock deal is subject to FCC approval and expected to close within 12 months, AT&T said.

Why it matters: Straight Path owns nationwide rights to what is known as millimeter wave spectrum. Such high-band frequencies can carry data very fast, but not very far, and make up a key part of plans for the next generation of cellular technology, known as 5G.

Go deeper

The right and left internet loves Anthony Fauci

Data: Newswhip; Chart: Naema Ahmed/Axios

If you feel like you're suddenly spending a surprising amount of your days thinking and talking about Anthony Fauci, you're not alone. He's become the third-most talked about person online, according to data from NewsWhip provided to Axios.

Why it matters: Fauci, the director of the National Institutes of Health office that deals with infectious diseases, has quickly become a household name, and one of the few household names with (mostly) bipartisan credibility.

The push to multiply limited medical supplies

Illustration: Eniola Odetunde/Axios

Health care workers and the federal government are scrambling to stretch limited supplies of medical equipment.

Why it matters: We can’t manufacture enough medical masks or ventilators in time to meet the enormous surge in demand that's expected to hit in mid-April. The next-best thing is trying to make what we have last as long as possible.

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 10 p.m. ET: 1,014,673 — Total deaths: 52,973 — Total recoveries: 210,335Map.
  2. U.S.: Total confirmed cases as of 10 p.m. ET: 244,678 — Total deaths: 5,911 — Total recoveries: 9,058Map.
  3. 2020 updates: The Democratic National Committee said its July convention will be postponed until August because of the coronavirus. A federal judge declined to delay Wisconsin's April 7 primary election.
  4. Jobs latest: Coronavirus unemployment numbers are like a natural disaster hitting every state.
  5. Public health latest: Anthony Fauci called for all states across the U.S. to issue stay-at-home orders. The FDA will allow blood donations from gay men after 3-month waiting period, citing "urgent need."
  6. Business latest: Treasury Secretary Steven Mnuchin said oil companies are eligible for aid from new lending programs the Federal Reserve is setting up, but not direct loans from his department.
  7. U.S.S. Theodore Roosevelt: Navy removes captain of aircraft carrier who sounded alarm about coronavirus.
  8. 1 future thing: In developing countries, consequences of COVID-19 could be deeper and far more difficult to recover from.
  9. What should I do? Answers about the virus from Axios expertsWhat to know about social distancingQ&A: Minimizing your coronavirus risk.
  10. Other resources: CDC on how to avoid the virus, what to do if you get it.

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