Boost Mobile has effectively ended its pursuit of becoming the United States’ fourth nationwide wireless carrier. The company announced it will sell much of its spectrum holdings — licenses in the 600MHz and 3.45GHz bands — to AT&T for about $23 billion. Pending regulatory approval, AT&T can begin leasing the spectrum immediately.
The sale provides a financial lifeline to Boost’s parent company, EchoStar, which recently warned investors of “substantial doubt” about its ability to remain viable. It also alleviates regulatory pressure from the FCC, where concerns had mounted over Boost’s large swaths of unused spectrum.
A Hybrid Model, Not a Rival
Boost’s path forward looks dramatically different. In its press release, EchoStar described Boost’s future as a “hybrid” mobile network operator (MNO), combining its limited 5G infrastructure with AT&T’s nationwide coverage. Over time, parts of Boost’s radio access network will be decommissioned.
For many analysts, this confirms the end of the fourth-carrier experiment that regulators had envisioned when T-Mobile merged with Sprint in 2020. “Let’s face it, it’s the end of the fourth carrier. It’s not happening,” said Roger Entner of Recon Analytics.
The deal has already drawn criticism from independent mobile virtual network operators (MVNOs). Peter Adderton, CEO of MobileX and founder of Boost Mobile, urged regulators to impose strict safeguards before approving the deal. He argued that without such protections, independent MVNOs would be squeezed out by large carriers that dominate wholesale agreements.
AT&T’s Broadband Push
AT&T framed the acquisition as a step toward strengthening its fixed wireless access (FWA) offering, branded Internet Air. The company says it plans to accelerate its rollout of home broadband services using the new spectrum, with the aim of bundling mobile and internet services in new markets.
Analysts Craig Moffett and Nick Del Deo called the deal “a negative” for cable broadband providers, suggesting that AT&T’s added spectrum capacity could make it a stronger player in the home internet market.
While AT&T gains momentum, EchoStar faces an uncertain future. The company had invested heavily in building out an Open RAN 5G network, but analysts predict more spectrum sales are likely, as EchoStar appears less capable of sustaining itself as a full-fledged facilities-based carrier.
EchoStar still operates Sling TV, Dish Network, and Hughesnet satellite broadband, and is preparing to launch a low-Earth-orbit satellite service to compete with SpaceX’s Starlink and Amazon’s Project Kuiper. But questions remain about whether the market can support so many satellite broadband providers.
What The Author Thinks
Boost’s retreat from becoming a fourth national carrier feels like the inevitable unraveling of a regulatory gamble. When Sprint and T-Mobile merged, regulators pinned their hopes on Boost filling the competitive gap. Instead, the company is selling off spectrum to the very giants it was supposed to challenge. While AT&T and other carriers will spin this as a win for consumers, the reality is fewer true competitors remain. Boost may survive in a hybrid form, but the dream of a viable fourth national carrier has effectively ended.
Featured image credit: Wikimedia Commons
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