FILE PHOTO: A satellite model is placed on EchoStar Satellite Services logo in this picture illustration taken April 4, 2022. REUTERS/Dado Ruvic/Illustration/File Photo
(Reuters) -EchoStar said on Monday it expects to hold $24.1 billion in total cash after using proceeds from its spectrum license sales to repay debt, bolstering its balance sheet and supporting growth in wireless, satellite and technology sectors.
The satellite communications firm sold some wireless spectrum licenses to AT&T for $23 billion and SpaceX for about $17 billion after the Federal Communications Commission questioned EchoStar's compliance with buildout extensions and use of mobile-satellite service spectrum.
