EchoStar Corporation (NASDAQ:SATS) shares are trading higher Friday after the company confirmed President Trump encouraged it and the FCC chair to reach a deal over its wireless spectrum licenses and a report that stated EchoStar is making delayed interest payments, averting default.
The move comes as EchoStar continues to face regulatory uncertainty stemming from an ongoing Federal Communications Commission review of its use of cellular and satellite spectrum licenses. The company had initially withheld payments to allow time to gather information and explore potential resolutions with the FCC. According to a company filing, EchoStar Chairman recently met with FCC Chair Brendan Carr to discuss concerns about possible changes to previously approved spectrum construction timelines and usage rules, which could threaten company operations.
