As SATS Chapter 11 Clock Clicks Down, Does FCC Need to Act?
On May 30th, SATS declined to make an $326 million interest payment. Given the automatic 30-day grace period, that means SATS must either make the payment by June 30th or it goes into default. Per President’s Trump’s instructions, Chairman Carr is supposed to be negotiating with Charlie Ergen to see if there is a path to avoid bankruptcy. In this note we discuss what we know and cannot know about those negotiations.EchoStar is a holding company. Through its subsidiaries, the company is a global provider of broadband satellite technologies, broadband internet services for home and small office customers, satellite operations and satellite services. The company operates in two business segments: Hughes, which provides broadband satellite technologies and broadband internet services and broadband network technologies, managed services, equipment, hardware, satellite services and communications solutions; and EchoStar Satellite Services, which uses certain of the company's owned and leased in-orbit satellites and related licenses to provide satellite service operations and satellite services.
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