EchoStar has sold its unpaired AWS-3 spectrum licenses to SpaceX for about $2.6 billion in stock. This follows a prior deal for $17 billion transaction for AWS-4 and H block.
Echostar also announced a financial recognition of $16.5 billion impairment on 5G assets and a $3.9 billion net loss.
EchoStar will manage its $11 billion stake in SpaceX through a new division while keeping paired AWS-3 holdings.
The paired AWS-3 spectrum will likely be sold to Verizon.
Echostar took a $3.9 billion loss for accounting. but they now have $2.6 billion more spacex.About $11.1 billion.
They can still sell the AWS-3 paired portion to Verizon to get gain or no loss on that 5G spectrum.
Echostar had sold the AT&T part for a gain.
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