Latest news with #wirelessspectrum
CNA
15 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
15 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
15 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
CNA
16-06-2025
- Business
- CNA
EchoStar soars 50% after report Trump urged EchoStar, FCC chair to reach deal on licenses
NEW YORK :Shares of EchoStar rose as much as 50 per cent on Monday following a late Friday Bloomberg report that U.S. President Donald Trump urged EchoStar Chairman Charlie Ergen and Federal Communications Commission Chair Brendan Carr to reach a deal over the fate of the company's wireless spectrum licenses. The telecommunications services company's stock also surged after the bell on Friday due to the report, which said Trump met on Thursday with Ergen and he telephoned Carr, who came to the White House to join the meeting. EchoStar did not immediately respond to a request for comment. The FCC told EchoStar in May it was investigating the company's compliance obligations to provide 5G service in the U.S. EchoStar has been trying to protect its wireless spectrum licenses from the threat of revocation by the FCC. EchoStar has disclosed that it missed roughly $500 million in interest payments and cited uncertainty around the FCC review. UBS analysts in a Sunday note said they believe the recent developments "suggest the forfeiting of Echostar's airwaves is less likely and brings spectrum valuation back into focus." They noted they expect interest from wireless carriers in EchoStar's spectrum licenses "given the shortage of near-term spectrum opportunities and the compatibility of Echostar's airwaves with existing network equipment/deployments," such as those with T-Mobile US and AT&T. Still, the analysts wrote that with the current situation unresolved, their "neutral" rating on the stock remains. The stock hit an intraday high of $25.29 on Monday after closing on Friday at $16.84. Through Friday's close, EchoStar's stock had shed about 30 per cent of value since the FCC notified the company of its probe.
Reuters
16-06-2025
- Business
- Reuters
EchoStar soars 50% after report Trump urged EchoStar, FCC chair to reach deal on licenses
NEW YORK, June 16 (Reuters) - Shares of EchoStar (SATS.O), opens new tab rose as much as 50% on Monday following a late Friday Bloomberg report that U.S. President Donald Trump urged EchoStar Chairman Charlie Ergen and Federal Communications Commission Chair Brendan Carr to reach a deal over the fate of the company's wireless spectrum licenses. The telecommunications services company's stock also surged after the bell on Friday due to the report, which said Trump met on Thursday with Ergen and he telephoned Carr, who came to the White House to join the meeting. EchoStar did not immediately respond to a request for comment. The FCC told EchoStar in May it was investigating the company's compliance obligations to provide 5G service in the U.S. EchoStar has been trying to protect its wireless spectrum licenses from the threat of revocation by the FCC. EchoStar has disclosed that it missed roughly $500 million in interest payments and cited uncertainty around the FCC review. UBS analysts in a Sunday note said they believe the recent developments "suggest the forfeiting of Echostar's airwaves is less likely and brings spectrum valuation back into focus." They noted they expect interest from wireless carriers in EchoStar's spectrum licenses "given the shortage of near-term spectrum opportunities and the compatibility of Echostar's airwaves with existing network equipment/deployments," such as those with T-Mobile US (TMUS.O), opens new tab and AT&T (T.N), opens new tab. Still, the analysts wrote that with the current situation unresolved, their "neutral" rating on the stock remains. The stock hit an intraday high of $25.29 on Monday after closing on Friday at $16.84. Through Friday's close, EchoStar's stock had shed about 30% of value since the FCC notified, opens new tab the company of its probe.
