FCC investigation looms over EchoStar’s missed interest payments and a new satellite
1 min read
Summary
Satellite company Echostar has missed a further $326m in interest payments on its debt, citing “uncertainty” due to an investigation by the Federal Communications Commission (FCC) as to whether the company is meeting its requirements to deploy 5G, with the regulator also looking into possible links between EchoStar and Dish mobile.
As a result, EchoStar has “frozen its decision-making” for Boost Mobile brand.
The company is also sinking further funds into its TV business, announcing a new satellite deal with Maxar that will cover 50 US states and Puerto Rico.
SpaceX, which is also vying for spectrum licenses in the 2GHz band, has accused Echostar of a “land grab” for spectrum.