Dinesh Nair

SpaceX, the company that owns the Starlink satellite network, agreed to acquire wireless spectrum from EchoStar for about $17 billion in cash and stock. SpaceX is buying EchoStar’s AWS-4 and H-block spectrum licenses, and will pay as much as $8.5 billion in cash and up to $8.5 billion in SpaceX stock. EchoStar will use proceeds from the deal to retire some of its debt, as well as fund its continued operations and growth initiatives.