The FCC has ended a regulatory probe into EchoStar (SATS) after the company agreed to sell $17B worth of wireless spectrum to Elon Musk’s SpaceX, Bloomberg’s Kelcee Griffis reports. FCC chairman Brendan Carr said the commission would no longer be looking into whether EchoStar, which also recently announced a spectrum deal with AT&T (T), had hit milestones for building out its mobile network, the author says, citing a letter Carr wrote to EchoStar chairman Charlie Ergen.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SATS:
- Shares of Canada’s MDA Space (MDA) Plunge 25% After EchoStar Cancels Contract
- Echostar’s Strategic Spectrum Sale and MVNO Shift Drive Buy Rating
- Morning News Wrap-Up: Monday’s Biggest Stock Market Stories!
- EchoStar sells spectrum licenses to SpaceX, StubHub to launch IPO: Morning Buzz
- EchoStar rises 17.4%