EchoStar Corp (NASDAQ:SATS) shares rose sharply during Wednesday's session, driven by a landmark $23 billion deal to sell a significant portion of its wireless spectrum portfolio to AT&T Inc (NYSE:T).
The agreement with AT&T involves an all-cash transaction for EchoStar's 3.45 GHz and 600 MHz spectrum licenses. Per a Tuesday press release, the sale will provide AT&T with mid-band and low-band airwaves to bolster its 5G network and fiber infrastructure. The AT&T deal is expected to close by mid-2026, pending regulatory approval.
