SpaceX spends $17 billion to acquire spectrum licenses from Englewood-based EchoStar

Elon Musk s SpaceX has reached a deal worth about billion with Englewood-based EchoStar for spectrum licenses that it will use to beef up its Starlink satellite grid The deal for EchoStar s AWS- and H-block spectrum licenses includes up to billion in cash and up to billion in SpaceX stock SpaceX will make approximately billion in cash interest payments on EchoStar debt through November SpaceX and EchoStar will enter into a long-term commercial agreement which will allow EchoStar s Boost Mobile subscribers to access SpaceX s next-generation Starlink Direct to Cell facility Shares of EchoStar surged before the arena opened Monday Related Articles Englewood-based EchoStar gives up wireless grid independence for enough cash to survive AT T snatches up wireless spectrum licenses from Colorado s EchoStar for billion Last month AT T revealed that it would spend billion to acquire wireless spectrum licenses from EchoStar a notable expansion of its low- and mid-band coverage networks EchoStar stated that it anticipates that the AT T deal and the SpaceX transaction will resolve latest inquiries from the Federal Communications Commission about the rollout of G mechanism in the U S The FCC had been calling for hearings on whether Echostar was properly using the spectrum that it is now selling and its efforts to make G more available to communities EchoStar stated Monday that it will use the proceeds from the sale partly to pay down debt Current operations of Dish TV Sling and Hughes will not be impacted the company declared Get more business news by signing up for our Financial market Now newsletter