Musk’s SpaceX spends $17 billion to acquire spectrum licenses from EchoStar

By MICHELLE CHAPMAN AP Business Writer Elon Musk s SpaceX has reached a deal worth about billion with EchoStar for spectrum licenses that it will use to beef up its Starlink satellite framework Related Articles Hasbro announces HQ move to Boston Robinhood joins new band of companies calling the S P their home methods to get on the path to lifetime income FAA extends ban on US commercial flights to Haiti s capital because of liability from gangs Stocks tick higher after Wall Street flirts with another record 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 institution Shares of EchoStar surged before the industry opened Monday Last month AT T announced that it will spend billion to acquire wireless spectrum licenses from EchoStar a major expansion of its low- and mid-band coverage networks EchoStar explained 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 apparatus 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 explained 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 mentioned