FCC Chair Flags Ongoing Discussions with EchoStar About Spectrum
On Friday FCC Chairman Brendan Carr was interviewed on CNBC about the Paramount merger. However, near the end of the discussion (around the 7:35 mark), he mentioned that he is having "ongoing discussions" with Charlie Ergen about putting EchoStar's spectrum to its "highest and best use." This answers the most common question we have been getting from clients over the last few weeks on the company, which is whether progress toward a settlement between the FCC and EchoStar is being made. Moreover, when industry participants discuss putting spectrum to its "highest and best use," they are typically implying that the spectrum should be put to use in the networks of the three national carriers. This is a positive for our thesis, as we believe the only way EchoStar's spectrum will fetch $60BN+ is if it is sold to AT&T, Verizon and T-MobileEchoStar 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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