• EchoStar’s Shares Surge in pre-market trading
By Obinna Uballa
Elon Musk’s SpaceX has purchased $17 billion worth of spectrum licenses from United States operator EchoStar, in a strategic move to enhance its Starlink direct-to-cell network, the two companies announced in a joint statement on Monday.
The agreement will allow Boost Mobile subscribers under EchoStar to connect directly to Starlink’s satellite service without the need for additional hardware, the statement said.
SpaceX deployed its first direct-to-cell satellites in early 2024. Initially offering text messaging and alerts, the service now includes access to apps, social media platforms, and messaging services for users in remote areas, according to the company’s website.
To deliver these capabilities, SpaceX has partnered with 10 mobile operators across North and South America, Australia, Japan, Switzerland, and Ukraine.
“More than 50% of the world’s landmass remains without terrestrial coverage,” SpaceX said on its site. “As we roll out the next-generation Direct-to-Cell constellation, we will continue collaborating with mobile network operators globally to provide seamless connectivity to as many users as possible.”
Following the announcement, EchoStar shares surged 22% in pre-market trading on the New York Stock Exchange, reaching $82 around 12:00 GMT.
