Overview

• SpaceX will acquire EchoStar’s AWS‑4 and H‑block licenses for up to $8.5 billion in cash and up to $8.5 billion in SpaceX stock, with roughly $2 billion of EchoStar interest payments funded through November 2027.
• The purchase spans 50 MHz of U.S. spectrum around the 2 GHz band plus global MSS rights, which SpaceX says will enable next‑generation Direct‑to‑Cell satellites using optimized 5G protocols.
• EchoStar and SpaceX also signed a commercial agreement that will let Boost Mobile customers access Starlink Direct‑to‑Cell service.
• EchoStar says this transaction, together with its $23 billion spectrum sale to AT&T, is expected to resolve the FCC review triggered by questions over spectrum use, and the SpaceX deal still requires regulatory approval to close.
• SpaceX frames the spectrum as transformative for scaling capacity and reducing reliance on terrestrial partners, while EchoStar plans to apply proceeds toward its heavy debt load and is effectively stepping back from ambitions to be a fourth national carrier.