White & Case Advised EchoStar on US$23 Billion Spectrum Sale to AT&T
White & Case LLP has advised EchoStar (NASDAQ: SATS), a global 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. As part of the transaction, EchoStar and AT&T have also amended their network services agreement to create a hybrid mobile network operator (MNO) relationship.
The sale will enable AT&T to accelerate deployment of the purchased spectrum to consumers nationwide. Boost Mobile subscribers will continue to be served through its cloud-native 5G core connected to AT&T’s nationwide network. Proceeds from the transaction will be used to retire debt obligations and support EchoStar’s continued operations and growth initiatives.
The White & Case team was led by M&A partners Michael Deyong and Daniel Dufner (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). They were supported by M&A associates Dilara Erik and Isabelle James (New York); Capital Markets associate Elizabeth Mapelli (New York); and Tax partners David Dreier and Adriana Zhan (New York).
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