EchoStar Prepares Potential Bankruptcy Filing Amid FCC Review

EchoStar Prepares Potential Bankruptcy Filing Amid FCC Review · The Wall Street Journal

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EchoStar is considering a chapter 11 bankruptcy filing as the company vies to shield its cache of wireless spectrum licenses from the threat of revocation by federal regulators, people familiar with the matter said. Pressure on the satellite-and-wireless company co-founded by telecom mogul Charlie Ergen mounted last month after Federal Communications Commission Chairman Brendan Carr told the company that certain of its wireless and satellite spectrum rights were under review. EchoStar has skipped about $500 million in debt-interest payments in recent days, starting a countdown that would push the company into default before July if not cured within the bonds’ grace period.