FCC approves EchoStar $40 billion spectrum sale to SpaceX
The FCC approved EchoStar's $40 billion spectrum sale to AT&T and SpaceX to boost 5G and satellite services. It also requires a new $2.4 billion escrow fund.
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ECHOSTAR CORP-A won FCC approval Tuesday to sell $40 billion in wireless spectrum to SpaceX and AT&T INC. The deal offloads 115 megahertz of spectrum to boost 5G and satellite connectivity across the United States. The transaction provides EchoStar needed liquidity while forcing the company to settle billions in outstanding construction debts.
