Echostar prepares potential bankruptcy filing

[jeslevine]

"
(Reuters) -EchoStar is considering a Chapter 11 bankruptcy filing as the telecommunications services firm vies to shield its cache of wireless spectrum licenses from the threat of revocation by federal regulators, the Wall Street Journal reported on Friday, citing people familiar with the matter.

The company declined to comment on the report.

Last month, the Federal Communications Commission (FCC) notified EchoStar it was investigating the company's compliance with certain federal obligations to provide 5G service in the U.S., questioning EchoStar's buildout extension and mobile-satellite service.

FCC's actions have severely limited the company's ability to make strategic decisions regarding the growth and investment of its Boost Mobile business, according to a regulatory filing by the company last month."

https://finance.yahoo.com/news/echostar-prepares-potential-bankruptcy-filing-000632911.html

 

[Scott Greczkowski]

Smart move. They should have done it awhile ago.

 

[jeslevine]

Smart move. They should have done it awhile ago.

Hasn't happened yet Scott, but if does this should protect them.

John

 

[navychop]

Not sure this is settled law

 

[HipKat]

Last month, the Federal Communications Commission (FCC) notified EchoStar it was investigating the company's compliance with certain federal obligations to provide 5G service in the U.S., questioning EchoStar's buildout extension and mobile-satellite service.

Sorry, Elon, Boost IS the Nationwide 5G service.
Stick to Satellites and fix your rockets

 

[Scott Greczkowski]

Hasn't happened yet Scott, but if does this should protect them.

John

Yes it should protect them.

With that said when all is said and done... I expect DISH to own DIRECTV before its all over.

 

[HipKat]

Yes it should protect them.

With that said when all is said and done... I expect DISH to own DIRECTV before its all over.

You aren't the only one. {{{wink}}}

 

[navychop]

Nudge, nudge, know what I mean?

 

[Juan]

View: https://youtu.be/yM7czRg8Qcg?si=mv-9mncf0Lv7lq52

 

[Bruce]

View: https://youtu.be/yM7czRg8Qcg?si=mv-9mncf0Lv7lq52

Juan, that is a year old story.

 

[Scott Greczkowski]

Juan, that is a year old story.

Trolling... Trolling... Trolling...

Lol.

 

[MikeD-C05]

Yes it should protect them.

With that said when all is said and done... I expect DISH to own DIRECTV before its all over.

What do you know that we don't know? I am curious how that would potentially work. Considering he is going to do a reorganization Bankruptcy that should wipe out most of his debt. So he would be a good risk for more debt to buy Directv after the Bankruptcy?

 

[nelson61]

With that said when all is said and done... I expect DISH to own DIRECTV before its all over.

I recall AT&T saying towards the end - when they were the non managing shareholder of DIRECTV - there will be no more new satellites.

With two new EchoStar satellites scheduled, it sure looks like your expectations are correct.

 

[dishdude]

https://seekingalpha.com/article/4792801-echostar-corporation-has-entered-the-end-game-rating-downgrade

 

[Bruce]

https://seekingalpha.com/article/4792801-echostar-corporation-has-entered-the-end-game-rating-downgrade

From that link-

Takeaway

Based on all the data currently available, I think that things are going to get worse for EchoStar Corporation from this point on. I honestly don't see any redeeming qualities in the business at this time. Fundamentally, the firm is a mess, and financial performance is probably going to continue to worsen.

 

[navychop]

Nudge, nudge, know whatimean

I am curious how that would potentially work.

I still haven't figured out how K Mart bought Sears!

 

[Bruce]

I still haven't figured out how K Mart bought Sears!

Thought it was Sears bought K-Mart, not that it matters, they ( Sears) are almost all gone.

 

[navychop]

That article does not even give a passing thought to the possibility of some unknown affecting the outcome. I suspect that some folks have knowledge that was not shared with that article's author.

Or I'm dreaming.

 

[navychop]

Thought it was Sears bought K-Mart, not that it matters, they ( Sears) are almost all gone.

Pretty sure Jonah swallowed the whale on this one.

 

[b4pjoe]

Thought it was Sears bought K-Mart, not that it matters, they ( Sears) are almost all gone.

Nope…In 2005, Kmart Holding Corporation acquired Sears, Roebuck and Company, forming Sears Holdings Corporation. This acquisition was a $12 billion deal, with the new company managing both Kmart and Sears retail brands. Edward S. Lampert, a hedge fund owner, controlled a significant portion of the new corporation