The FCC approved Amazon Leo's $11.5 billion deal to buy Globalstar, giving Amazon's satellite arm about two dozen Globalstar satellites and mobile-satellite spectrum that the agency said will help Leo enter the direct-to-device market. Leo has launched nearly 400 satellites since April 2025, aims to put thousands in low Earth orbit by 2029, and plans commercial service by the end of 2026, while Starlink runs more than 11,000 satellites. Apple is also involved because Globalstar powers Emergency SOS and Find My on iPhone and Apple Watch; Amazon has signed an agreement with Apple to keep those services running and plans to acquire Apple's stake in Globalstar, which made up about 63% of Globalstar's revenue last year. Amazon now expects about $220 billion in cash capital spending in 2026, which management says will create free cash flow headwinds for now.
Summary written by Upside AI from the original article. Read the source for full details.
Read the original on Yahoo Finance ↗
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AMZNmergers and acquisitionstelecommunicationsApple
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Related tickers and likely impact
AMZN
▲ Likely positiveAmazon
Relevance: medium
| Market | US stocks |
|---|---|
| Sector | Consumer Discretionary |
| Industry | Broadline Retail |
| Market cap | $2.7T |
| Close on 10/27/2026 | 253.10 |
| Change that session | +1.61% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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