EchoStar Stock Soars 70% as It Sells Spectrum to AT&T for $23B Amid FCC Pressure
1. EchoStar sells spectrum allocations to AT&T for $23 billion, boosting SATS shares 70%. 2. The sale resolves FCC inquiries related to EchoStar's wireless obligations. 3. New hybrid mobile operator relationship formed between EchoStar and AT&T. 4. Transaction expected to close by mid-next year. 5. SATS shares are up 30% year-to-date despite regulatory pressures.