Latest news with #CharlieErgen
CNA
12 hours ago
- Business
- CNA
Trump wants EchoStar, FCC to reach 'amicable' deal over wireless licenses, company says
WASHINGTON :President Donald Trump prodded Dish TV parent EchoStar Corp and Federal Communications Commission Chair Brendan Carr earlier this month to reach an amicable deal over the fate of the company's wireless spectrum licenses, the company said in a filing on Friday. In May, the FCC told EchoStar it was investigating the company's compliance obligations to provide 5G service in the United States, questioning EchoStar's buildout extension and mobile-satellite service. Bloomberg News first reported that Trump met on June 12 with EchoStar Chair Charlie Ergen and later called Carr to take part in the meeting. EchoStar has been trying to shield its cache of wireless spectrum licenses from the threat of revocation by the FCC. The White House did not immediately respond to a Reuters request for comment on Friday and had previously declined to confirm the meeting took place. Carr did not immediately comment on the report on Friday but at a monthly FCC press conference on Thursday he told reporters, regarding EchoStar, that the "status quo needs to change" and added there was a "narrow window of opportunity here." EchoStar said in a filing on Friday that Trump "encouraged the parties involved to reach an amicable resolution." Ergen told Carr this month any reconsideration of the construction deadline extensions or revision to the 2 GHz band's sharing rules "would threaten the viability of EchoStar's current operations and future plans." U.S. satellite TV provider DirecTV terminated its agreement to acquire EchoStar's satellite television business last year, which includes rival Dish TV, over a failed debt-exchange offer. EchoStar said the FCC review was "harming EchoStar's ongoing deployment and threaten its viability as a wireless provider as well as endanger the video and broadband satellite services upon which millions of consumers rely." EchoStar previously disclosed that it missed roughly $500 million in interest payments, citing uncertainty around the ongoing FCC review but said on Friday that based on current discussions with the commission it was making interest payments to "further extend the timeline for EchoStar to explore an acceptable resolution of the FCC's stated concerns."
Reuters
12 hours ago
- Business
- Reuters
Trump wants EchoStar, FCC to reach 'amicable' deal over wireless licenses, company says
WASHINGTON, June 27 (Reuters) - President Donald Trump prodded Dish TV parent EchoStar Corp (SATS.O), opens new tab and Federal Communications Commission Chair Brendan Carr earlier this month to reach an amicable deal over the fate of the company's wireless spectrum licenses, the company said in a filing on Friday. In May, the FCC told EchoStar it was investigating the company's compliance obligations to provide 5G service in the United States, questioning EchoStar's buildout extension and mobile-satellite service. Bloomberg News first reported that Trump met on June 12 with EchoStar Chair Charlie Ergen and later called Carr to take part in the meeting. EchoStar has been trying to shield its cache of wireless spectrum licenses from the threat of revocation by the FCC. The White House did not immediately respond to a Reuters request for comment on Friday and had previously declined to confirm the meeting took place. Carr did not immediately comment on the report on Friday but at a monthly FCC press conference on Thursday he told reporters, regarding EchoStar, that the "status quo needs to change" and added there was a "narrow window of opportunity here." EchoStar said in a filing on Friday that Trump "encouraged the parties involved to reach an amicable resolution." Ergen told Carr this month any reconsideration of the construction deadline extensions or revision to the 2 GHz band's sharing rules "would threaten the viability of EchoStar's current operations and future plans." U.S. satellite TV provider DirecTV terminated its agreement to acquire EchoStar's satellite television business last year, which includes rival Dish TV, over a failed debt-exchange offer. EchoStar said the FCC review was "harming EchoStar's ongoing deployment and threaten its viability as a wireless provider as well as endanger the video and broadband satellite services upon which millions of consumers rely." EchoStar previously disclosed that it missed roughly $500 million in interest payments, citing uncertainty around the ongoing FCC review but said on Friday that based on current discussions with the commission it was making interest payments to "further extend the timeline for EchoStar to explore an acceptable resolution of the FCC's stated concerns." EchoStar said on Friday that it was forgoing some other interest payments, citing uncertainty around the FCC review.
Yahoo
12 hours ago
- Business
- Yahoo
Trump wants EchoStar, FCC to reach 'amicable' deal over wireless licenses, company says
By David Shepardson WASHINGTON (Reuters) -President Donald Trump prodded Dish TV parent EchoStar Corp and Federal Communications Commission Chair Brendan Carr earlier this month to reach an amicable deal over the fate of the company's wireless spectrum licenses, the company said in a filing on Friday. In May, the FCC told EchoStar it was investigating the company's compliance obligations to provide 5G service in the United States, questioning EchoStar's buildout extension and mobile-satellite service. Bloomberg News first reported that Trump met on June 12 with EchoStar Chair Charlie Ergen and later called Carr to take part in the meeting. EchoStar has been trying to shield its cache of wireless spectrum licenses from the threat of revocation by the FCC. The White House did not immediately respond to a Reuters request for comment on Friday and had previously declined to confirm the meeting took place. Carr did not immediately comment on the report on Friday but at a monthly FCC press conference on Thursday he told reporters, regarding EchoStar, that the "status quo needs to change" and added there was a "narrow window of opportunity here." EchoStar said in a filing on Friday that Trump "encouraged the parties involved to reach an amicable resolution." Ergen told Carr this month any reconsideration of the construction deadline extensions or revision to the 2 GHz band's sharing rules "would threaten the viability of EchoStar's current operations and future plans." U.S. satellite TV provider DirecTV terminated its agreement to acquire EchoStar's satellite television business last year, which includes rival Dish TV, over a failed debt-exchange offer. EchoStar said the FCC review was "harming EchoStar's ongoing deployment and threaten its viability as a wireless provider as well as endanger the video and broadband satellite services upon which millions of consumers rely." EchoStar previously disclosed that it missed roughly $500 million in interest payments, citing uncertainty around the ongoing FCC review but said on Friday that based on current discussions with the commission it was making interest payments to "further extend the timeline for EchoStar to explore an acceptable resolution of the FCC's stated concerns." EchoStar said on Friday that it was forgoing some other interest payments, citing uncertainty around the FCC review. Sign in to access your portfolio
Bloomberg
2 days ago
- Business
- Bloomberg
Ergen Seeks Reprieve on EchoStar Debt as FCC Fight Comes to Head
Charlie Ergen has asked creditors to EchoStar Corp. and its pay-TV unit Dish Network Corp. for a reprieve on the company's debt, just days before a grace period on unpaid interest payments is set to expire, according to people with knowledge of the matter. EchoStar elected to stop paying $326 million of bond coupon payments last month after the Federal Communications Commission launched an investigation into whether the company was meeting its obligations for its wireless and satellite spectrum rights. EchoStar has said the FCC's threats have 'effectively frozen our ability to make decisions' and was forcing it to conserve cash.
Yahoo
19-06-2025
- Business
- Yahoo
EchoStar (SATS) Skyrockets By 50% as Trump Orders Firm, FCC to Resolve Dispute
EchoStar Corporation (NASDAQ:SATS) is one of the . EchoStar Corporation jumped by 50 percent on Monday to close at $25.11 apiece as investor sentiment was buoyed by reports that President Donald Trump stepped in to its ongoing battle with the Federal Communications Commission (FCC), spurring optimism about business continuations. According to a report by Reuters, Trump urged FCC Chairman Brendan Carr and EchoStar Corporation (NASDAQ:SATS) Chairman Charlie Ergen to reach a deal over the fate of the latter's wireless spectrum licenses. This followed a letter from the FCC last month notifying the company that it initiated an investigation to look into the company's compliance obligations to provide 5G services in the US. A telecom engineer behind the control board in a comms facility. Following the probe, EchoStar Corporation (NASDAQ:SATS) announced that it intentionally did not pay worth $326 million of interest payments for one of its senior notes, saying that its ongoing battle with the FCC froze its ability to make decisions. While we acknowledge the potential of SATS as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
