Tower stocks rose after SpaceX's deal. Dish is fighting their claims of about $7.5 billion
SpaceX agreed to buy nationwide airwaves, Grain Management said Oct. 8. Crown Castle says Dish Wireless discontinued its network business after EchoStar agreed to sell spectrum to AT&T and SpaceX in 2025.
KeyVex News··6 min readFact-checked against 6 public recordsKeyVex News··6 min readFact-checked against 6 public records
CCI$79.64▲ 15.6%Close, Oct. 9. Prices from Tiingo.The short versionTap to readTap to close
- Tower companies earn rent from carriers that put equipment on their towers. SpaceX agreed to buy airwaves on Oct. 8; none of the three has disclosed a lease with it in an SEC filing.
- Dish Wireless, a carrier that set out to build its own network, signed agreements with all three. It stopped paying Crown Castle and American Tower, and filed for bankruptcy on June 30.
- In court, Dish argues its obligations were excused, or else should be capped. If it wins, it says, a $2.4 billion trust the FCC ordered can pay all its other creditors in full.
- So signed rent became a disputed claim a court may cut or cap. Crown Castle says Dish owes more than $3.5 billion; it carries about $165 million and expects to recover it.
- Crown Castle reports third-quarter results on Oct. 21, its first report since the SpaceX deal.
The jump: Shares of Crown Castle rose 15.6% to $79.64 on Oct. 9, their biggest one-day gain since November 2008. American Tower rose 9.3% and SBA Communications 7.3%.Chart dataPrices By KeyVex's math, the three added about $13 billion in market value that day: American Tower about $7.2 billion, Crown Castle $4.6 billion and SBA $1.3 billion.10-Q10-Q10-Q
The deal: On Oct. 8, Grain Management said SpaceX had agreed to buy its nationwide 800 MHz licenses, which it called scarce low-band airwaves, subject to FCC approval. Grain said they would support "satellite direct-to-device" service, letting Starlink Mobile reach customers "from both the ground and space."Grain Reuters described SpaceX as positioning Starlink Mobile to bypass conventional cell towers.Reuters
Why it matters: The same three signed deals with another carrier that set out to build its own network.Stipulation Dish Wireless's agreements with them covered thousands of sites; it stopped paying Crown Castle and American Tower.Court filing10-Q10-Q In a Houston bankruptcy court, it now argues that its obligations were excused. The three companies' claims total about $7.5 billion, by Dish's count.Court filing Crown Castle says Dish owes it more than $3.5 billion in remaining payments.10-Q
Crown Castle's stock and the Dish Wireless disputeDaily close, Sept. 2, 2025 to Oct. 9, 2026 ▼ 18.8%Show chartHide chart
- 1Sept. 24, 2025 Dish says it is excused from its American Tower agreement. American Tower sues in Colorado on Oct. 20, 2025.
- 2Jan. 12, 2026 Crown Castle terminates its Dish master lease. It says Dish owes more than $3.5 billion in remaining payments.
- 3May 12, 2026 The FCC orders EchoStar to fund a $2.4 billion trust. For qualified claims, including site lease obligations.
- 4June 30, 2026 Dish Wireless files for Chapter 11 in Houston. Dish DBS and affiliates file the same day.
- 5Aug. 7, 2026 The three tower companies' claims are on file. Filed Aug. 6 and 7; about $7.5 billion together, by Dish's count.
- 6Aug. 11, 2026 Dish objects to the tower claims. Force majeure, impossibility and frustration of purpose, or a cap.
- 7Oct. 8, 2026 Grain says SpaceX agreed to buy its 800 MHz airwaves. Terms not disclosed. Subject to FCC approval.
- 8Oct. 9, 2026 Crown Castle closes up 15.6% at $79.64. American Tower rises 9.3% and SBA 7.3%.
View the data (279 trading days)
| Date | Close | Day change |
|---|---|---|
| 2026-10-09 | $79.64 | +15.6% |
| 2026-10-08 | $68.89 | −0.2% |
| 2026-10-07 | $69.01 | +1.1% |
| 2026-10-06 | $68.28 | +1.0% |
| 2026-10-05 | $67.58 | +1.7% |
| 2026-10-02 | $66.44 | +0.5% |
| 2026-10-01 | $66.12 | −0.8% |
| 2026-09-30 | $66.65 | −0.6% |
| 2026-09-29 | $67.07 | 0.0% |
| 2026-09-28 | $67.10 | −1.1% |
| 2026-09-25 | $67.84 | +0.3% |
| 2026-09-24 | $67.63 | −3.7% |
| 2026-09-23 | $70.23 | −3.0% |
| 2026-09-22 | $72.37 | −1.2% |
| 2026-09-21 | $73.22 | +0.2% |
| 2026-09-18 | $73.06 | −0.9% |
| 2026-09-17 | $73.74 | +0.7% |
| 2026-09-16 | $73.22 | 0.0% |
| 2026-09-15 | $73.25 | −1.2% |
| 2026-09-14 | $74.17 | −1.9% |
| 2026-09-11 | $75.62 | +2.4% |
| 2026-09-10 | $73.87 | −1.7% |
| 2026-09-09 | $75.18 | −1.0% |
| 2026-09-08 | $75.97 | +0.2% |
| 2026-09-04 | $75.83 | −1.9% |
| 2026-09-03 | $77.26 | +2.5% |
| 2026-09-02 | $75.38 | −0.6% |
| 2026-09-01 | $75.84 | −0.4% |
| 2026-08-31 | $76.14 | 0.0% |
| 2026-08-28 | $76.14 | +1.5% |
| 2026-08-27 | $75.03 | −0.7% |
| 2026-08-26 | $75.54 | −1.0% |
| 2026-08-25 | $76.29 | −0.1% |
| 2026-08-24 | $76.40 | +1.2% |
| 2026-08-21 | $75.51 | +0.2% |
| 2026-08-20 | $75.39 | +1.0% |
| 2026-08-19 | $74.65 | +0.8% |
| 2026-08-18 | $74.03 | −0.6% |
| 2026-08-17 | $74.44 | −2.0% |
| 2026-08-14 | $75.98 | +0.3% |
| 2026-08-13 | $75.73 | +2.4% |
| 2026-08-12 | $73.97 | +0.4% |
| 2026-08-11 | $73.64 | 0.0% |
| 2026-08-10 | $73.61 | −2.6% |
| 2026-08-07 | $75.59 | +0.9% |
| 2026-08-06 | $74.92 | +1.5% |
| 2026-08-05 | $73.84 | −4.9% |
| 2026-08-04 | $77.66 | +1.2% |
| 2026-08-03 | $76.74 | +0.6% |
| 2026-07-31 | $76.30 | −0.3% |
| 2026-07-30 | $76.51 | −3.3% |
| 2026-07-29 | $79.09 | +4.4% |
| 2026-07-28 | $75.75 | +2.2% |
| 2026-07-27 | $74.13 | −1.0% |
| 2026-07-24 | $74.90 | +0.4% |
| 2026-07-23 | $74.57 | −3.8% |
| 2026-07-22 | $77.50 | +1.7% |
| 2026-07-21 | $76.20 | −2.5% |
| 2026-07-20 | $78.18 | −1.3% |
| 2026-07-17 | $79.17 | +0.6% |
| 2026-07-16 | $78.73 | −0.9% |
| 2026-07-15 | $79.47 | +0.5% |
| 2026-07-14 | $79.05 | −1.0% |
| 2026-07-13 | $79.84 | +0.2% |
| 2026-07-10 | $79.66 | +3.9% |
| 2026-07-09 | $76.68 | −0.3% |
| 2026-07-08 | $76.90 | −0.4% |
| 2026-07-07 | $77.22 | +3.1% |
| 2026-07-06 | $74.92 | −2.2% |
| 2026-07-02 | $76.60 | +0.1% |
| 2026-07-01 | $76.53 | +1.1% |
| 2026-06-30 | $75.73 | −3.7% |
| 2026-06-29 | $78.63 | −4.8% |
| 2026-06-26 | $82.62 | +3.9% |
| 2026-06-25 | $79.53 | −3.2% |
| 2026-06-24 | $82.14 | −2.6% |
| 2026-06-23 | $84.33 | +1.5% |
| 2026-06-22 | $83.12 | +1.3% |
| 2026-06-18 | $82.05 | −4.3% |
| 2026-06-17 | $85.77 | −2.7% |
| 2026-06-16 | $88.13 | −0.7% |
| 2026-06-15 | $88.74 | −3.7% |
| 2026-06-12 | $92.16 | +0.1% |
| 2026-06-11 | $92.04 | −1.4% |
| 2026-06-10 | $93.38 | +0.9% |
| 2026-06-09 | $92.57 | +0.8% |
| 2026-06-08 | $91.79 | −2.9% |
| 2026-06-05 | $94.49 | +0.7% |
| 2026-06-04 | $93.79 | +5.8% |
| 2026-06-03 | $88.62 | −1.4% |
| 2026-06-02 | $89.92 | −1.2% |
| 2026-06-01 | $91.03 | −0.5% |
| 2026-05-29 | $91.50 | +0.5% |
| 2026-05-28 | $91.09 | +0.2% |
| 2026-05-27 | $90.87 | +0.3% |
| 2026-05-26 | $90.64 | −0.9% |
| 2026-05-22 | $91.46 | −0.6% |
| 2026-05-21 | $92.04 | −0.6% |
| 2026-05-20 | $92.64 | +0.3% |
| 2026-05-19 | $92.34 | +2.7% |
| 2026-05-18 | $89.92 | +3.8% |
| 2026-05-15 | $86.66 | −0.7% |
| 2026-05-14 | $87.31 | −2.6% |
| 2026-05-13 | $89.62 | −2.1% |
| 2026-05-12 | $91.50 | +0.9% |
| 2026-05-11 | $90.67 | +0.1% |
| 2026-05-08 | $90.57 | −0.5% |
| 2026-05-07 | $91.07 | +0.9% |
| 2026-05-06 | $90.24 | +1.3% |
| 2026-05-05 | $89.10 | −1.2% |
| 2026-05-04 | $90.18 | +1.0% |
| 2026-05-01 | $89.26 | +0.5% |
| 2026-04-30 | $88.78 | +3.4% |
| 2026-04-29 | $85.87 | −0.3% |
| 2026-04-28 | $86.17 | +3.3% |
| 2026-04-27 | $83.44 | −3.4% |
| 2026-04-24 | $86.34 | −1.3% |
| 2026-04-23 | $87.52 | +1.8% |
| 2026-04-22 | $86.01 | +1.3% |
| 2026-04-21 | $84.92 | −3.0% |
| 2026-04-20 | $87.56 | −1.3% |
| 2026-04-17 | $88.71 | +2.1% |
| 2026-04-16 | $86.87 | +1.4% |
| 2026-04-15 | $85.63 | −0.7% |
| 2026-04-14 | $86.27 | −0.9% |
| 2026-04-13 | $87.08 | +0.9% |
| 2026-04-10 | $86.29 | −0.3% |
| 2026-04-09 | $86.57 | +1.2% |
| 2026-04-08 | $85.52 | +0.7% |
| 2026-04-07 | $84.91 | −1.9% |
| 2026-04-06 | $86.57 | +2.1% |
| 2026-04-02 | $84.78 | +4.9% |
| 2026-04-01 | $80.83 | −0.6% |
| 2026-03-31 | $81.31 | +2.0% |
| 2026-03-30 | $79.68 | +1.4% |
| 2026-03-27 | $78.59 | +0.8% |
| 2026-03-26 | $77.97 | +1.3% |
| 2026-03-25 | $76.96 | −2.1% |
| 2026-03-24 | $78.59 | −3.4% |
| 2026-03-23 | $81.33 | −1.3% |
| 2026-03-20 | $82.36 | −3.2% |
| 2026-03-19 | $85.07 | +0.2% |
| 2026-03-18 | $84.91 | −3.4% |
| 2026-03-17 | $87.93 | +0.5% |
| 2026-03-16 | $87.52 | +0.1% |
| 2026-03-13 | $87.47 | +1.6% |
| 2026-03-12 | $86.11 | −1.7% |
| 2026-03-11 | $87.56 | −1.1% |
| 2026-03-10 | $88.52 | −1.3% |
| 2026-03-09 | $89.73 | −0.8% |
| 2026-03-06 | $90.43 | +0.4% |
| 2026-03-05 | $90.11 | −1.1% |
| 2026-03-04 | $91.15 | +1.0% |
| 2026-03-03 | $90.26 | +0.8% |
| 2026-03-02 | $89.53 | 0.0% |
| 2026-02-27 | $89.54 | +3.6% |
| 2026-02-26 | $86.40 | +0.4% |
| 2026-02-25 | $86.04 | −2.9% |
| 2026-02-24 | $88.64 | +1.1% |
| 2026-02-23 | $87.70 | −0.4% |
| 2026-02-20 | $88.01 | +1.8% |
| 2026-02-19 | $86.47 | −1.1% |
| 2026-02-18 | $87.43 | −4.8% |
| 2026-02-17 | $91.86 | +1.6% |
| 2026-02-13 | $90.38 | +2.9% |
| 2026-02-12 | $87.81 | +2.0% |
| 2026-02-11 | $86.07 | +1.8% |
| 2026-02-10 | $84.54 | +1.8% |
| 2026-02-09 | $83.08 | +2.7% |
| 2026-02-06 | $80.88 | +3.2% |
| 2026-02-05 | $78.37 | −9.0% |
| 2026-02-04 | $86.11 | +2.0% |
| 2026-02-03 | $84.41 | −0.6% |
| 2026-02-02 | $84.96 | −2.1% |
| 2026-01-30 | $86.81 | −0.1% |
| 2026-01-29 | $86.92 | +2.4% |
| 2026-01-28 | $84.89 | −2.1% |
| 2026-01-27 | $86.75 | −0.6% |
| 2026-01-26 | $87.25 | +0.8% |
| 2026-01-23 | $86.60 | +0.5% |
| 2026-01-22 | $86.19 | −1.1% |
| 2026-01-21 | $87.17 | +0.4% |
| 2026-01-20 | $86.81 | −4.5% |
| 2026-01-16 | $90.87 | +0.5% |
| 2026-01-15 | $90.41 | +2.0% |
| 2026-01-14 | $88.67 | +2.1% |
| 2026-01-13 | $86.81 | +2.1% |
| 2026-01-12 | $84.99 | +1.6% |
| 2026-01-09 | $83.67 | −1.0% |
| 2026-01-08 | $84.52 | −0.7% |
| 2026-01-07 | $85.09 | −2.3% |
| 2026-01-06 | $87.13 | −1.5% |
| 2026-01-05 | $88.42 | −0.3% |
| 2026-01-02 | $88.70 | −0.2% |
| 2025-12-31 | $88.87 | −0.3% |
| 2025-12-30 | $89.10 | +0.5% |
| 2025-12-29 | $88.66 | +0.4% |
| 2025-12-26 | $88.28 | +0.5% |
| 2025-12-24 | $87.85 | +0.5% |
| 2025-12-23 | $87.42 | +1.1% |
| 2025-12-22 | $86.43 | +0.4% |
| 2025-12-19 | $86.10 | −0.9% |
| 2025-12-18 | $86.90 | −1.5% |
| 2025-12-17 | $88.25 | +0.4% |
| 2025-12-16 | $87.90 | −1.8% |
| 2025-12-15 | $89.49 | −1.6% |
| 2025-12-12 | $90.96 | −1.0% |
| 2025-12-11 | $91.84 | +1.3% |
| 2025-12-10 | $90.64 | +0.5% |
| 2025-12-09 | $90.20 | −0.7% |
| 2025-12-08 | $90.82 | +1.7% |
| 2025-12-05 | $89.28 | +0.8% |
| 2025-12-04 | $88.61 | +0.3% |
| 2025-12-03 | $88.33 | +0.1% |
| 2025-12-02 | $88.28 | −0.2% |
| 2025-12-01 | $88.50 | −3.0% |
| 2025-11-28 | $91.28 | +0.8% |
| 2025-11-26 | $90.55 | +1.3% |
| 2025-11-25 | $89.40 | +0.4% |
| 2025-11-24 | $89.02 | −1.1% |
| 2025-11-21 | $90.01 | −0.1% |
| 2025-11-20 | $90.12 | −1.0% |
| 2025-11-19 | $91.05 | 0.0% |
| 2025-11-18 | $91.04 | +0.5% |
| 2025-11-17 | $90.55 | −1.2% |
| 2025-11-14 | $91.68 | +1.2% |
| 2025-11-13 | $90.61 | −3.3% |
| 2025-11-12 | $93.67 | −0.6% |
| 2025-11-11 | $94.23 | +2.6% |
| 2025-11-10 | $91.83 | +2.6% |
| 2025-11-07 | $89.54 | +2.0% |
| 2025-11-06 | $87.81 | −2.2% |
| 2025-11-05 | $89.83 | −0.5% |
| 2025-11-04 | $90.32 | +0.9% |
| 2025-11-03 | $89.52 | −0.8% |
| 2025-10-31 | $90.22 | −1.2% |
| 2025-10-30 | $91.32 | −1.1% |
| 2025-10-29 | $92.32 | −2.4% |
| 2025-10-28 | $94.58 | −3.1% |
| 2025-10-27 | $97.60 | −0.9% |
| 2025-10-24 | $98.49 | +0.2% |
| 2025-10-23 | $98.27 | +0.6% |
| 2025-10-22 | $97.70 | −1.0% |
| 2025-10-21 | $98.65 | −0.2% |
| 2025-10-20 | $98.87 | +1.4% |
| 2025-10-17 | $97.48 | −0.6% |
| 2025-10-16 | $98.06 | 0.0% |
| 2025-10-15 | $98.06 | +0.8% |
| 2025-10-14 | $97.29 | +1.2% |
| 2025-10-13 | $96.10 | −1.5% |
| 2025-10-10 | $97.58 | +1.0% |
| 2025-10-09 | $96.62 | +0.2% |
| 2025-10-08 | $96.42 | +1.3% |
| 2025-10-07 | $95.14 | +1.2% |
| 2025-10-06 | $93.99 | −1.5% |
| 2025-10-03 | $95.45 | 0.0% |
| 2025-10-02 | $95.46 | −0.3% |
| 2025-10-01 | $95.71 | −0.8% |
| 2025-09-30 | $96.49 | +0.3% |
| 2025-09-29 | $96.19 | +0.9% |
| 2025-09-26 | $95.31 | +1.4% |
| 2025-09-25 | $93.98 | +0.3% |
| 2025-09-24 | $93.71 | −0.7% |
| 2025-09-23 | $94.35 | +0.1% |
| 2025-09-22 | $94.28 | +0.7% |
| 2025-09-19 | $93.60 | +0.7% |
| 2025-09-18 | $92.96 | −1.9% |
| 2025-09-17 | $94.80 | +1.3% |
| 2025-09-16 | $93.57 | 0.0% |
| 2025-09-15 | $93.57 | −1.9% |
| 2025-09-12 | $95.39 | −0.2% |
| 2025-09-11 | $95.58 | +1.6% |
| 2025-09-10 | $94.03 | −0.5% |
| 2025-09-09 | $94.50 | +0.7% |
| 2025-09-08 | $93.88 | −2.4% |
| 2025-09-05 | $96.15 | +0.7% |
| 2025-09-04 | $95.46 | −1.7% |
| 2025-09-03 | $97.07 | −1.0% |
| 2025-09-02 | $98.10 |
Crown Castle's Oct. 1 close, $66.12, was its lowest in a year. Source: Tiingo end-of-day closes, as traded, via KeyVex.
View the data
| Company | Market value added Oct. 9 (KeyVex's math) | Note |
|---|---|---|
| American Tower (Up 9.3% to $182.24) | $7.2B | 465,960,048 shares x $15.51 |
| Crown Castle (Up 15.6% to $79.64) | $4.6B | 425,455,439 shares x $10.75 |
| SBA Communications (Up 7.3% to $182.49) | $1.3B | 106,088,110 shares x $12.48 |
Together about $13 billion. Share counts are as of July 21 (American Tower), July 28 (SBA) and Aug. 3 (Crown Castle). Sources: as-traded closes via KeyVex; each company's Form 10-Q.
What the deal does and doesn't say about towers
Grain's release does not say what ground equipment SpaceX would use. The terms were not disclosed, Reuters reported.GrainReuters The Wall Street Journal reported a price of about $8 billion in cash, according to Wireless Estimator.Wireless Estimator KeyVex reported on Oct. 9 that T-Mobile's filings say it may get a share of what Grain makes from the airwaves. In the one trading day after the deal was announced, none of the three tower companies filed anything with the SEC.EDGAREDGAREDGAR
Tim Farrar of TMF Associates told CNBC that reliable indoor coverage in cities would require SpaceX to put equipment on towers, Wireless Estimator reported. Bernstein told clients the deal keeps a SpaceX ground network "very much alive," the same report said. Bernstein also cautioned that buying airwaves is not a commitment to build.Wireless Estimator
This company can have tons of spectrum available, but if they do not have the network to use it, it doesn't matter.
How the Dish deals came apart
Crown Castle gave its account in a January release. After EchoStar, Dish's parent, announced in the summer of 2025 that it was selling spectrum licenses to AT&T and SpaceX, Dish told Crown Castle and other partners that September it was discontinuing its network business, Crown said.8-K Crown said it supported AT&T and SpaceX getting those airwaves, and would enforce its rights against Dish.8-K
Dish Wireless signed a master lease with Crown Castle on Nov. 13, 2020, and a collocation agreement, a contract to put its equipment on American Tower's towers, in March 2021.Stipulation10-Q On Sept. 24, 2025, Dish sent American Tower a notice saying it was excused from its obligations. American Tower sued in federal court in Colorado in October 2025. Dish then missed payments. American Tower terminated the agreements effective June 2, 2026, and added Dish's parent, EchoStar, to the suit.10-Q
Crown Castle terminated its Dish lease on Jan. 12, 2026, after Dish failed to make required payments. It says Dish owes all the remaining payments under the agreements.10-Q In May, as a condition of approving a spectrum license transaction involving EchoStar, the FCC required EchoStar to fund a $2.4 billion trust for qualified claims, including site lease obligations. Crown Castle believes its claims qualify.10-Q SBA's quarterly report mentions EchoStar only as a source of lost rent.10-Q SBA sued Dish Wireless in federal court in New York on Feb. 2, alleging it breached its tower rental contracts, Light Reading reported.Light Reading
Dish Wireless and its affiliates filed for Chapter 11, the kind of bankruptcy that lets a company keep operating while it reorganizes, on June 30. The three tower companies filed their claims, formal demands for payment, on Aug. 6 and 7. Dish's lawyers call the three "the largest creditors by far."Court filing By that filing's count, American Tower's fixed claim is about $2.7 billion and SBA's about $194 million, each plus amounts not yet fixed.Court filing
What Dish argues
In August, Dish asked the court to reduce the three claims on grounds of force majeure, impossibility and frustration of purpose, contract defenses that excuse a party when events outside its control intervene. Failing that, it wants them capped under section 502(b)(6) of the Bankruptcy Code, which limits a landlord's claim for future rent.Court filingStipulation If it wins, Dish says, the FCC trust will be enough to pay all its other creditors in full.Court filing
In a stipulation filed Aug. 19 for the court's approval, the parties agreed that any tower agreements still in force were rejected, the bankruptcy step that lets a debtor stop performing a contract, no later than July 14. Dish equipment left on the sites was deemed abandoned, and the tower companies may remove or sell it. Neither side gave up any argument about what is owed.Stipulation
What it has cost them so far
Crown Castle stopped booking revenue from Dish on Jan. 1. Its 2026 outlook counts nothing from Dish and expects about $220 million less site rental revenue from the termination.10-Q Crown Castle says it expects the net $165 million it carries on its balance sheet for the Dish agreements to be recoverable, though the outcome remains subject to uncertainty.10-Q
Dish was about 2% of American Tower's property revenue in 2025, and 4% in the U.S. and Canada. American Tower recorded $17.5 million of Dish impairment charges, write-downs of asset values, in the first half of 2026.10-Q
Crown Castle's last 10-Q says it is pursuing Dish through the bankruptcy and the FCC trust. It reports third-quarter results after the market closes on Oct. 21.10-QCrown Castle
What to watch
Crown Castle reports third-quarter results after the close; its call is at 4:45 p.m. ET.Crown Castle
Mediation in Dish Wireless's bankruptcy case runs to this date, Light Reading and Wireless Estimator reported.Light ReadingWireless Estimator
The FCC's review of SpaceX's purchase of Grain's 800 MHz licenses.
The paper trail
The filings and court records this story relies on, July 28 through Oct. 8, 2026.
| Filed (ET) | Form | Filer | What it shows |
|---|---|---|---|
| July 28, 4:07 p.m. | 10-Q | American Tower | The Dish dispute and lawsuit; Dish was about 2% of 2025 property revenue; $17.5 million of Dish impairments. |
| Aug. 5, 4:18 p.m. | 10-Q | Crown Castle | Dish owes more than $3.5 billion by Crown's count; about $165 million on the balance sheet; the $2.4 billion FCC trust. |
| Aug. 6, 2:02 p.m. | 10-Q | SBA Communications | Share count; $132 million to $136 million of expected 2026 domestic churn, in part from Sprint and EchoStar. |
| Aug. 19 | Stipulation | Dish Wireless and the three tower companies | Tower agreements deemed rejected by July 14; equipment deemed abandoned; all claims and defenses preserved. |
| Oct. 1 | Court filing | Dish Wireless debtors | About $7.5 billion of tower claims; the grounds of Dish's objection; the trust would pay all others if Dish wins. |
| Oct. 8 | Release | Grain Management | SpaceX agrees to buy Grain's nationwide 800 MHz portfolio, subject to FCC approval. |
Related coverage
Sources
17 sources, 6 of them public records
Public records
- Crown Castle Inc., Form 10-Q for the quarter ended June 30, 2026SEC EDGAR · Aug. 5, 2026
- Crown Castle Inc., Form 8-K, Exhibit 99.1: "DISH Wireless Defaults on Payment Obligations to Crown Castle"SEC EDGAR · Jan. 12, 2026
- American Tower Corp., Form 10-Q for the quarter ended June 30, 2026SEC EDGAR · July 28, 2026
- SBA Communications Corp., Form 10-Q for the quarter ended June 30, 2026SEC EDGAR · Aug. 6, 2026
- In re DISH DBS Corp., No. 26-90627 (Bankr. S.D. Tex.), Doc. 1144: Stipulation and agreed order regarding rejection notices (Crown Castle, American Tower, SBA)U.S. Bankruptcy Court, S.D. Texas (via Epiq) · Aug. 19, 2026
- In re DISH DBS Corp., No. 26-90627 (Bankr. S.D. Tex.), Doc. 1692: DISH Wireless debtors' objection to Comcast's motion to interveneU.S. Bankruptcy Court, S.D. Texas (via Epiq) · Oct. 1, 2026
Rules and references
- Crown Castle filings listSEC EDGAR · checked Oct. 11, 2026
- American Tower filings listSEC EDGAR · checked Oct. 11, 2026
- SBA Communications filings listSEC EDGAR · checked Oct. 11, 2026
Reporting
- "Grain Management Announces Definitive Agreement to Sell Nationwide 800 MHz Spectrum Portfolio to SpaceX"Grain Management, via PR Newswire · Oct. 8, 2026
- "Crown Castle Announces Third Quarter 2026 Earnings Conference Call Details" (as on Finviz)Crown Castle Inc. · Sept. 30, 2026
- "SpaceX takes aim at US wireless carriers with spectrum acquisition" (as on Yahoo Finance)Reuters · Oct. 8, 2026
- "SpaceX's $8 billion 800 MHz buy sends Crown Castle, American Tower and SBA shares soaring on a tenant that hasn't signed a lease"Wireless Estimator · Oct. 9, 2026
- "Dish DBS exits Chapter 11, but Dish Wireless is still stuck"Light Reading · Oct. 6, 2026
- "SBA also throws the book at Dish Wireless"Light Reading · March 2, 2026
Data
- End-of-day prices for CCI, AMT and SBAC, and for SPY and QQQ on the chart (Tiingo)KeyVex · through Oct. 9, 2026
- The chart's Filings layer: a selection of KeyVex's Congress trade, insider trade, Form 144, 8-K and lobbying records for CCIKeyVex · through Oct. 9, 2026
How we got these numbers
- Prices are end-of-day closes as traded, not adjusted for dividends. Daily moves are close to close. "Biggest one-day gain since November 2008" compares every close-to-close move in KeyVex's as-traded Crown Castle closes from Jan. 2, 2008: the last bigger gain was 18.1% on Nov. 24, 2008, and the biggest between then and Oct. 9, 2026 was 13.7% on Dec. 5, 2008. Every Crown Castle close in the chart's Story range is in its data table. The S&P 500 and Nasdaq 100 lines follow SPY and QQQ, also as traded, rebased to Crown Castle's close at the start of the range shown. The Filings switch shows the filing markers from KeyVex's Crown Castle stock page, a selection of congressional trades, insider trades, Form 144 notices, 8-Ks and lobbying filings: not every filing, and not only those tied to this story.
- Market value added is KeyVex's math: each company's change in closing price from Oct. 8 to Oct. 9, times the shares outstanding on the cover of its latest 10-Q (Crown Castle 425,455,439 at Aug. 3; American Tower 465,960,048 at July 21; SBA 106,088,110 Class A shares at July 28). Share counts change, so the figure is approximate.
- The $7.5 billion total and the American Tower and SBA claim amounts are as the Dish Wireless debtors describe the claims in their Oct. 1 court filing. That filing prints Crown Castle's claim as "$4.69 million", which does not fit its own $7.5 billion total, so this story uses Crown Castle's own figure from its 10-Q: remaining payments of more than $3.5 billion.
- Court documents are from the claims agent's public site for In re DISH DBS Corp., Case No. 26-90627, U.S. Bankruptcy Court for the Southern District of Texas.