Anterix up after FCC proposes broadband services on 900 MHz band framework

Shares of Anterix (ATEX) are up $1.37, or 5%, to $29.20 in Friday morning trading after the Federal Communications Commission proposed to establish a framework that will enable increased broadband deployment on all ten megahertz in the 896-901/935-940 MHz band. In a notice of proposed rulemaking and order dated January 16, the FCC stated in part: “The transition from solely narrowband use to combined broadband and narrowband use has been achieved in many areas around the country through a negotiation-based mechanism where a broadband licensee, after protecting and/or negotiating the acquisition or relocation of most incumbents, is permitted to mandatorily relocate a limited percentage of remaining covered incumbents – except those with complex systems – from the new broadband segment by paying reasonable relocation costs, including providing comparable facilities. In 2021, the Commission began accepting applications for 900 MHz broadband segment licenses. Since then, over 130 counties across the country have been transitioned to include a 900 MHz broadband segment, including counties in California, Kansas, and Florida. Anterix, Inc., through PDV Spectrum Holding Company, LLC, holds nearly all of these 900 MHz broadband licenses. Other parts of the country remain narrowband only, while Guam, the Northern Mariana Islands, and American Samoa have no apparent 900 MHz licensees at all.”