Amazon buys satellite company Globalstar for $11.6 billion

Amazon has agreed to buy the satellite communications company Globalstar for $11.57 billion. The deal is widely seen as a move to build a rival network to Elon Musk's Starlink satellite internet service.

Some reports suggest the move is also aimed at challenging Starlink's plans to connect smartphones directly to satellites. The purchase will help Amazon expand its own satellite internet business, known as Project Kuiper.