Intelsat SA I:NYSE

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Intelsat Shares Up 6.6% on Possible FCC Action for C-Band Spectrum in Fall

2:55PM ET 7/05/2019 MT Newswires
Intelsat (I) shares were up 6.6% on Friday afternoon after FCC Chairman Ajit Pai said that the FCC is working to free up 5G spectrum in the 3.7 GHz to 4.2 GHz band, known as C-band.

The FCC is working with other federal agencies to reallocate spectrum in the 3.1 GHz to 3.55 GHz band for commercial use, Pai said. These moves are part of the FCC's 5G FAST plan, which includes freeing up more spectrum for the commercial marketplace, promoting the deployment of wireless infrastructure, and modernizing regulations to push for more fiber deployment.

Intelsat has large holdings of C-band spectrum, which are airwaves that are primarily used to transmit cable TV through satellites. The FCC is looking to open up the spectrum for the rollout of 5G networks to US consumers.

Intelsat may be able to cash in on a market-based sale of C-band spectrum.

Price: 21.44, Change: +1.32, Percent Change: +6.59