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Investing.com -- SpaceX’s Starlink has reached an agreement to purchase wireless spectrum from Charlie Ergen’s EchoStar Corporation for approximately $17 billion.
Shares of EchoStar rose over 25% after the announcement.
The deal includes EchoStar’s complete portfolio of AWS-4 and H-block spectrum licenses.
The transaction structure consists of up to $8.5 billion in cash and up to $8.5 billion in SpaceX stock, with the stock portion valued as of the time the definitive agreement was signed.
As part of the arrangement, SpaceX will also fund $2 billion in cash interest payments on EchoStar’s debt through November 2027.
This acquisition will significantly expand Starlink’s spectrum holdings as the satellite internet provider continues to grow its global communications network.
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