EchoStar Off the Hook as FCC’s AWS-3 Re-Auction Clears $2.9 Billion

• The Federal Communications Commission's re-auction of AWS-3 wireless licenses has successfully surpassed the $2.9 billion threshold, reaching over $3.1 billion after 11 days of bidding.  

• This milestone officially relieves EchoStar of liability for a shortfall payment, which the company would have owed if the auction proceeds had fallen below $2.9 billion.  

• The 200 licenses in question were originally secured by EchoStar subsidiary Dish in 2015 for $3.4 billion, but were handed back after the FCC ruled Dish was ineligible for the small business bidding credits it used.  

• Analysts note that the large majority of the current auction's value is concentrated in just four highly sought-after licenses covering New York, Boston, and Chicago.  

  
  

Read the original article on Broadband Breakfast here