By Katherine Hamilton
Echostar is skipping another interest payment as it awaits the conclusion of a review by the Federal Communications Commission.
The Englewood, Colo., owner of Dish TV and Boost Mobile said Monday it would not make a $183 million cash interest payment due that day related to its Dish DBS company. The missed payment comes after the company said Friday it elected not to make a $326 million interest payment related to its spectrum business.
Echostar said it is not making these payments because of uncertainty surrounding an FCC review. On May 9, the FCC notified the company it was reviewing its compliance with certain federal obligations to provide 5G service in the U.S.
The FCC raised certain questions about Echostar's buildout extension and mobile-satellite service utilization in the 2GHz band. If the commission finds a lack of compliance, the company could lose some prior FCC grants of authority, Echostar said.
The uncertainty has caused Echostar to freeze its decision-making for its Boost business, including at its network buildout, it said.
Echostar has 30 days to make interest payments before the non-payment constitutes an event of default.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
June 02, 2025 16:31 ET (20:31 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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