SpaceX plans to acquire EchoStar’s unpaired AWS-3 spectrum licenses for about $2.6 billion in SpaceX stock, adding to a larger deal that already covers AWS-4 and H-block licenses.

The combined spectrum, along with SpaceX’s rocket, satellite manufacturing, and Starlink ambitions, is aimed at accelerating direct-to-cell connectivity for consumers and enterprises, including Boost Mobile customers.

Regulatory approval is required to close the transaction; EchoStar says its current services—DISH TV, Sling TV, Boost Mobile, and Hughes—will not be affected during the review.

The announcement was reported on November 6, 2025, by Jade Martinez-Pogue for Law360.

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EchoStar’s leadership notes alignment with semiannual earnings reporting and acknowledges that quarterly calls may be skipped occasionally while remaining compliant with SEC requirements.

Dish remains a shrinking strategic priority for EchoStar even as it deploys Sling passes and reports a quarterly record-low churn of 1.3%.

AT&T indicated in its Q3 earnings call that more EchoStar Boost Mobile customers appeared on AT&T’s network, signaling ongoing shifts in subscriber dynamics.

EchoStar reported quarterly wireless revenues of $939 million (up 4.5% YoY) while pay-TV revenues fell 10.6% to $2.3 billion; total revenue declined 7.1% to $3.6 billion with adjusted OIBDA down 27% to $231 million.

EchoStar is reorganizing under a new division, EchoStar Capital, to hold SpaceX equity and pursue asset-light growth; Hamid Akhavan becomes EchoStar Capital CEO while Charlie Ergen takes operational control of pay-TV and wireless businesses.

Executives say EchoStar will retain substantial capital to pursue expanded opportunities through its new investment arm and related ventures.

Charlie Ergen has returned as CEO of the Dish Network parent, with Akhavan shifting to lead EchoStar Capital.

Analysts note some devices already support AWS-3 frequencies (1695–1710 MHz) via the n70 band, suggesting partial compatibility that could ease integration.