DivestmentJul 28, 2026, 04:19 PM
EchoStar Sells Spectrum to AT&T for $20.25B; Reduces Debt
AI Summary
EchoStar Corporation completed the previously announced sale of its 3.45 GHz and 600 MHz spectrum licenses to AT&T Mobility II LLC, receiving $20.25 billion in proceeds. An additional $2.4 billion was deposited by AT&T into an FCC Trust to cover potential claims related to the sold licenses. Concurrently, DISH DBS Corporation repaid $2.0 billion of its 7.75% Senior Notes, and DISH Network Corporation redeemed approximately $3.686 billion of its 11 3/4% Senior Secured Notes, significantly reducing the company's debt.
Key Highlights
- EchoStar completed the sale of 3.45 GHz and 600 MHz spectrum licenses to AT&T Mobility II LLC.
- EchoStar received $20.25 billion in proceeds from the spectrum sale.
- AT&T deposited an additional $2.4 billion into an FCC Trust for potential claims.
- DISH DBS Corporation repaid $2.0 billion in 7.75% Senior Notes due July 2026.
- DISH Network Corporation redeemed $3.686 billion of 11 3/4% Senior Secured Notes due November 2027.
- An FCC Trust was established with $2.4 billion to pay obligations related to the sold licenses.
Price Impact
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