Elon Musk's SpaceX Acquires EchoStar Spectrum To Transform Global Satellite Connectivity

EchoStar announced it will sell its AWS-4 and H-block spectrum licenses to SpaceX for about $17 billion, a deal split evenly between cash and stock, according to Benzinga. The deal includes up to $8.5 billion in cash, up to $8.5 billion in SpaceX stock, and $2 billion in SpaceX-funded interest payments on EchoStar debt through 2027. As part of the transaction, Boost Mobile subscribers will gain access to SpaceX’s Starlink Direct to Cell service. EchoStar CEO Hamid Akhavan said the SpaceX deal advances the company’s decade-long vision for satellite-based direct-to-cell connectivity by combining its spectrum with SpaceX’s launch and satellite capabilities. The deal follows AT&T’s $23 billion all-cash agreement to buy other EchoStar spectrum licenses. EchoStar shares rose 24% to $83.53 in premarket trading on Monday.