SpaceX, the Elon Musk-backed company that owns the Starlink satellite internet network, agreed to acquire wireless spectrum from EchoStar Corp. for about $17 billion, allowing Charlie Ergen’s beleaguered telecommunications company to resolve an overhanging regulatory probe and pay down debt.
SpaceX is buying EchoStar’s AWS-4 and H-block spectrum licenses designated for satellite and mobile communications according to a statement Monday, confirming an earlier Bloomberg News report. It will pay as much as $8.5 billion in cash and up to $8.5 billion in SpaceX stock. SpaceX has also agreed to fund a total of about $2 billion in cash interest payments on EchoStar debt through November 2027.
Musk’s SpaceX to Buy EchoStar (SATS) Spectrum for $17 Billion
byu/deadcowww instocks
Posted by deadcowww
8 Comments
rip ASTS
My $46 price average for ASTS is not looking so hot lol
What does this mean for ASTS long-term?
TMUS, T, VZ all tanked on this news. Not sure how this effects their Oligopoly. I thought ASTS would be more effected.
I love $xovr (not a recommendation, do your own research)
* SpaceX has acquired key spectrum (AWS-4 & H-block) that enables Starlink to deliver internet directly to **unmodified mobile phones**.
* The new spectrum supports optimized 5G satellite-to-phone protocols and expands Starlink’s D2C capacity.
* Boost Mobile users will be among the first beneficiaries via a commercial agreement.
* This move reinforces SpaceX’s ambitions to lead the direct satellite-to-smartphone market—directly competing with AST SpaceMobile’s carrier-dependent model.
” It will pay as much as $8.5 billion in cash and **up to $8.5 billion in SpaceX stock**.”
So it becomes – to some degree – something of a public SpaceX tracking stock.
Everyone is on about ASTS, but its really MDA Space that’s the real loser in all of this. Their $2+ billion contract just fucking evaporated.
Yes, im sore about it.