Morningstar

EchoStar Shares Soar on Spectrum Sale to SpaceX

Provided by Dow Jones

By Nicholas G. Miller 




  Shares of EchoStar soared in early trading after the company agreed to sell spectrum licenses to SpaceX for $17 billion. 



  The stock rose 27% to $85.24 in premarket trading and nearly tripled so far this year as of Friday's close. 



  The Englewood, Colo., company on Monday also said it agreed to a partnership with Elon Musk's space-and-satellite company that will allow EchoStar's Boost Mobile subscribers to access SpaceX's Starlink direct-to-cell connection. 



  Last month, EchoStar agreed to sell wireless spectrum to AT&T for $23 billion. Earlier this year, the U.S. Federal Communications Commission began an investigation into EchoStar's spectrum operations in response to accusations from SpaceX that the company wasn't sufficiently using its spectrum licenses. 



  EchoStar said it expects the sale to SpaceX will resolve the FCC inquiries. 





  Write to Nicholas G. Miller at nicholas.miller@wsj.com. 





  (END) Dow Jones Newswires



  September 08, 2025 07:27 ET (11:27 GMT)


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