Gibson Dunn advises SpaceX on $17 billion acquisition of EchoStar

SpaceX is the acquirer in a spectrum-focused transaction, buying EchoStar's full portfolio of AWS-4 and H-block 50 MHz spectrum licenses together with certain related international rights and priorities.
The deal is valued at US$17 billion and is structured as an acquisition of the full AWS-4 and H-block spectrum portfolio, rather than a purchase of EchoStar's equity.
The transaction also includes certain international rights and priorities tied to the spectrum package, making it a broader rights acquisition alongside the domestic license portfolio.

EchoStar is a telecommunications company and the parent of Dish Network LLC, selling a spectrum portfolio that it had assembled over the past decade around direct-to-cell and 5G-related strategy.
The transaction is a US$17 billion cash-and-stock sale of EchoStar's AWS-4 and H-block spectrum licenses to SpaceX, with consideration split into up to US$8.5 billion in cash and up to US$8.5 billion in SpaceX stock; SpaceX will also fund about US$2 billion of EchoStar debt interest through November 2027.
EchoStar expects the sale to help resolve FCC inquiries, and closing is subject to regulatory approvals and other customary conditions; after signing, EchoStar and SpaceX will also enter a long-term commercial agreement giving Boost Mobile subscribers access to Starlink Direct to Cell service.

SpaceX is the acquirer in a spectrum-focused transaction, buying EchoStar's full portfolio of AWS-4 and H-block 50 MHz spectrum licenses together with certain related international rights and priorities.
The deal is valued at US$17 billion and is structured as an acquisition of the full AWS-4 and H-block spectrum portfolio, rather than a purchase of EchoStar's equity.
The transaction also includes certain international rights and priorities tied to the spectrum package, making it a broader rights acquisition alongside the domestic license portfolio.

EchoStar is a telecommunications company and the parent of Dish Network LLC, selling a spectrum portfolio that it had assembled over the past decade around direct-to-cell and 5G-related strategy.
The transaction is a US$17 billion cash-and-stock sale of EchoStar's AWS-4 and H-block spectrum licenses to SpaceX, with consideration split into up to US$8.5 billion in cash and up to US$8.5 billion in SpaceX stock; SpaceX will also fund about US$2 billion of EchoStar debt interest through November 2027.
EchoStar expects the sale to help resolve FCC inquiries, and closing is subject to regulatory approvals and other customary conditions; after signing, EchoStar and SpaceX will also enter a long-term commercial agreement giving Boost Mobile subscribers access to Starlink Direct to Cell service.

Deal Overview