Global law firm White & Case LLP has advised EchoStar (NASDAQ: SATS), a globally, fully integrated communications and content delivery leader, on its entry into a definitive agreement to sell the company's 3.45 GHz and 600 MHz spectrum licenses to AT&T for approximately US$23 billion, subject to regulatory approval and other closing conditions. In addition, the companies have amended their network services agreement to create a hybrid mobile network operator (MNO) relationship. This transaction is part of EchoStar's ongoing efforts to resolve the Federal Communications Commission's inquiries.
The license sale to AT&T will enable rapid deployment of the purchased spectrum to US consumers across the country. Through Boost Mobile's hybrid MNO infrastructure, subscribers will continue to receive service from Boost Mobile's cloud-native 5G core connected to AT&T's leading nationwide network.
The proceeds of the transaction will be used for, among other things, retiring certain debt obligations and funding EchoStar's continued operations and growth initiatives.
The White & Case team was led by M&A partners Michael Deyong and Daniel Dufner (both in New York); Capital Markets partners Jonathan Michels (New York) and A.J. Ericksen (Houston); and Financial Restructuring and Insolvency partners Thomas Lauria (Miami) and Matthew Linder (Chicago). The team also included M&A associates Dilara Erik and Isabelle James (both in New York); Capital Markets associate Elizabeth Mapelli (New York); and Tax partners David Dreier and Adriana Zhan (both in New York).
White & Case previously advised EchoStar on a series of transformative financing transactions in October 2024. The Firm also previously advised EchoStar on its merger with DISH Network in August 2023.
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