EchoStar's $23 Billion Spectrum Sale: A Catalyst for Growth and Debt Relief

EchoStar Corp.'s stock surged 75% after announcing a $23 bln deal to sell wireless spectrum assets to AT&T, resolving the company's debt load and regulatory risks. The deal will provide EchoStar with the liquidity to retire its most pressing obligations, de-risk its balance sheet, and invest in growth initiatives. The company's short interest had been high due to pessimistic sentiment tied to its debt, which was likely accelerated by the positive news.