Echostar prepares potential bankruptcy filing

[Scott Greczkowski]

Paywall.

Coming up for me with no paywall. Lets try a different link.

https://www.marketwatch.com/story/echostar-may-be-considering-this-unusual-way-to-protect-itself-from-the-government-and-the-stock-is-falling-619196b4

 

[Bruce]

Coming up for me with no paywall. Lets try a different link.

https://www.marketwatch.com/story/echostar-may-be-considering-this-unusual-way-to-protect-itself-from-the-government-and-the-stock-is-falling-619196b4

While the first payment missed was linked to the wireless spectrum and the FCC problem.

The second payment missed is linked to to the Satellite TV service, nothing to do with the spectrum.

The owner of Dish TV and Boost Mobile said after Monday's closing bell that it wouldn't make a $183 million cash interest payment related to its Dish DBS company due that day. The missed payment came after the company last week chose not to make a $326 million interest payment related to its spectrum business.

https://www.marketwatch.com/story/echostar-shares-fall-after-skipping-another-interest-payment-amid-fcc-review-b3da9307?mod=markets

 

[nelson61]

Bankruptcy imminent?
Classic case of a well planned bankruptcy.

Get everything you can into cash.
The judge will likely let you keep it to fund continuing operations

 

[Yespage]

FCC's Push to Let SpaceX Use EchoStar's Spectrum Gets Weird and Ugly

In a surprise, an outgoing GOP commissioner slams the FCC's effort to pull EchoStar's exclusive access to 2GHz spectrum, something SpaceX wants for its cellular Starlink service.

www.pcmag.com

"EchoStar's network, which incorporates components from dozens of diverse vendors, stands in stark contrast to how traditional, closed-architecture networks are built," a group of suppliers, including Samsung and Dell Technologies, told the FCC last month. "Any undue regulatory action that halts or imperils EchoStar's network deployment or its licenses would adversely impact this significant investment in Open RAN technology and cast doubt on the innovation."

That is some hefty back up for Echostar.

Even if the FCC finds in favor of Musk... I mean SpaceX, Echostar should have an easy case in the courts. They bought. Unless there is a specific usage threshold by a particular date, there would be no justification for the illegal seizing of the purchased spectrum.

 

[lonrhodes1]

Spectrum squatting? Not sure about that. The attached doc shows what Echo/DISH/Boost have done (and spent BILLIONS ON) regarding the standards bodies for the last few years. If even half of this is true then I agree, they stink at tooting their own horn. Can they be the 1 wireless service in the USA that's totally vertically integrated? dunno, maybe...

 

[Juan]

That is some hefty back up for Echostar.

Even if the FCC finds in favor of Musk... I mean SpaceX, Echostar should have an easy case in the courts. They bought. Unless there is a specific usage threshold by a particular date, there would be no justification for the illegal seizing of the purchased spectrum.

The only thing dish purchased was a license

 

[NYDutch]

The only thing dish purchased was a license

I think we're all aware that the FCC doesn't hand you a box with all that spectrum in it. Of course it's licensed...

 

[EarDemon]

Paywall.

What's a paywall?

Bypass Paywalls Clean is your friend

 

[fmj77]

Zero dollars and no internet service. That is great if you live where you can get OTA. I can get exactly zero channels via OTA.

He's fortunate in that he can point the antenna between 2 hillsides directly to a repeater tower 40 miles away. I am not so fortunate due to the location of my home.

 

[fmj77]

I assume he is not picky about his channels / networks.

Correct. He's really only interested in the major network stations and a few of their sub channels.

 

[fmj77]

As long as you can stomach the prescription, supplemental life insurance, you may be entitled to compensation, let's tell you about the scam called annuities, etc... ads. OTA can provide a huge amount of options, but the ads on some of these things can be brutal. As far as internet, my parents had signed up for a senior package that provides 10 Mbps for $20 or something. It sucks for updates, but to stream the FAST channels that are becoming common on new TVs, it is perfect.

My neighbor has no interest in the internet. We got Spectrum fiber in our neck of the woods last year and he only had it for a few months before he cancelled.

 

[fmj77]

It's just the haters spouting the same old nonsense. Why they are even here on the Dish forum is a mystery, considering how much they hate Dish.

Did I ever state I hated Dish? I was a Dish customer for nearly 15 years and was very satisfied with the service. I only cancelled when I got in on the Starlink beta and realized I didn't need Dish anymore.

 

[Juan]

Correct. He's really only interested in the major network stations and a few of their sub channels.

Stuck in the 70s I see.back when all you needed was 2 or 3 OTA channels...sad part is the content was about 10x better back then

 

[Scott Greczkowski]

I don't have a subscription for this article but it sounds interesting to say the least.

Trump Urged Ergen, Carr to Cut a Deal on EchoStar Spectrum

President Donald Trump has intervened to push EchoStar Corp. and Federal Communications Commission Chairman Brendan Carr to resolve a dispute over the satellite communications company’s valuable spectrum licenses.

www.bloomberg.com

 

[b4pjoe]

I don't have a subscription for this article but it sounds interesting to say the least.

Trump Urged Ergen, Carr to Cut a Deal on EchoStar Spectrum

President Donald Trump has intervened to push EchoStar Corp. and Federal Communications Commission Chairman Brendan Carr to resolve a dispute over the satellite communications company’s valuable spectrum licenses.

www.bloomberg.com

Try this:

https://www.livemint.com/companies/news/trump-urged-ergen-carr-to-cut-a-deal-on-echostar-spectrum-11749847013229.html

 

[That American Girl]

What the actual F?

 

[John2021]

And now after his breakup from Trump I expect the FCC to drop their investigation.

i think it's a show to keep us confused and pissed off with eachother!!! politics has become like the WWE

 

[nelson61]

Cliff Notes

EchoStar shares surged more than 50% in postmarket trading on Friday, after Bloomberg reported on the president's meeting with Carr. EchoStar's 10.75% bonds maturing in 2029 rose about 5.4 cents on the dollar to 108.5 cents as of 5:16 p.m. in New York, according to Trace. The bonds are among the biggest gainers in US high-yield trading Friday.
--
After multiple rebuffed attempts to speak directly to Carr, EchoStar Chairman Charlie Ergen finally sat down with him late Wednesday afternoon in the FCC's Washington headquarters, according to people familiar with the meetings. Carr told Ergen that EchoStar needs to start selling some of its spectrum licenses, the people said, asking not to be identified discussing private information. Otherwise, Carr told Ergen, the company risks losing them.
--
The next day, Ergen met with Trump at the White House to make his case, the people said. The president said he didn't want a major American company to go bankrupt, as it would create uncertainties for other businesses. In the midst of the conversation, Trump telephoned Carr, who came to the Oval Office and joined the meeting.
__
At one point Trump also called Newsmax Inc. founder Chris Ruddy to ask if EchoStar's DISH satellite TV service carried conservative news outlets like his, according to people familiar with the matter.
--
The meeting concluded with the president encouraging Carr and Ergen to work together and reach some kind of deal, the people said.

Some of EchoStar's creditors also huddled with FCC staff to discuss the fate of the company, according to different people familiar with the matter, who asked not to be named discussing private meetings.

 

[John2021]

No one is getting the DIRECTV streaming service either... I know there were big meetings about that last week as they are concerned about it.

the problem with dtv streaming is if you don't do a BYOD your stuck doing a credit check for the gemini air plus the first ones free then gemini air after that is 7.00 after that. who's gonna do all that just to watch tv??? most are going to on demand services like netflix... i think the channel lineup is different on dtv stream BYOS vs using there streaming box

 

[John2021]

So bad that Elon wants it bad enough to try and use the FCC against Dish to get it

if i was elon id'e be worried about tesla tanking since trump stopped the ev mandate!!!! i wonder if there will be another show of them breaking up lol