U.S.-based satellite communications provider EchoStar has agreed to sell spectrum licences worth approximately $17 billion to SpaceX.
The deal covers all of EchoStar’s AWS-4 and H-block spectrum licences.
Under the agreement, up to $8.5 billion will be paid in cash, with a further $8.5 billion in SpaceX stock. The deal also includes provisions for SpaceX to fund around $2 billion in interest payments on EchoStar debt through November 2027.
The transaction will establish a long-term commercial partnership, enabling EchoStar’s Boost Mobile subscribers to access SpaceX’s “next-generation” Starlink Direct to Cell service via its cloud-native 5G core.
EchoStar CEO Hamid Akhavan said the agreement “continues our legacy of putting the customer first, combining EchoStar’s spectrum with SpaceX’s rocket and satellite capabilities to deliver direct-to-cell services in a more innovative, economical and faster way globally.”
In wireless communications, spectrum refers to the range of radio frequencies that support telephone, internet, and satellite services.
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Start your day informed with the AnewZ Morning Brief. Here are the top stories for the 4th of September, covering the latest developments.
U.S. efforts to squeeze Iran’s economy through an oil blockade and sanctions are becoming increasingly difficult for Tehran to withstand, according to three senior Iranian sources. Washington is escalating pressure in hopes of securing concessions in future negotiations.
An Iranian tanker was hit by U.S. forces on Saturday near Iran's key oil export hub, Kharg Island, in the Gulf, the semi-official Iranian news agency Tasnim reported.
Volkswagen’s supervisory board has approved a major overhaul aimed at cutting 100,000 jobs by 2030 as the German carmaker battles weaker sales, falling profits and intensifying global competition.
Chinese Premier Li Qiang has called on American companies to expand their presence in China and pledged that Beijing would address their "reasonable concerns," as China looks to stabilise trade ties with Washington ahead of President Xi Jinping's planned visit to the U.S. later this month
Apple is entering a new era as Tim Cook steps down as chief executive after 15 years at the helm, handing the technology giant's leadership to longtime executive John Ternus.
Volkswagen is heading towards a decisive showdown with labour representatives as Germany's largest carmaker weighs sweeping restructuring measures that could lead to factory closures and tens of thousands of job losses.
Online fast-fashion retailer Shein is seeking to raise up to $1.77 billion in a Hong Kong IPO after its valuation fell around 70 per cent from its private-market peak four years ago.
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