Echostar Corp - SATS STOCK NEWS

Boost Mobile and Wind River have announced a major collaboration where Wind River will provide core-to-edge cloud infrastructure for Boost Mobile's network. This marks the telecom industry's largest containers-as-a-service (CaaS) vendor changeover on an Open RAN network. The network currently provides 5G voice coverage to over 200 million Americans. Wind River's Studio Operator platform, based on StarlingX project, will deliver cloud-native solutions enabling commercial deployment of next-generation network infrastructure with complete automation and zero-touch provisioning capabilities.

EchoStar 's subsidiary Hughes Network Systems has been awarded a $6.5 million contract to deploy a 5G Open Radio Access Network (ORAN) prototype at Fort Bliss, Texas. The network will feature a RAN Intelligent Controller (RIC) for testing military network applications. The prototype will initially operate as a temporary evaluation network before transitioning to support both DoD and commercial customers. Hughes will serve as prime contractor, integrating RIC with ORAN infrastructure and 5G spectrum from Boost Mobile. The project aims to test rapid spectrum changes at 5G control nodes for mobile command post communications and supports FY 2024 National Defense Authorization Act requirements.

Hughes Network Systems (SATS) has partnered with National 4-H to distribute 1,000 STEM Challenge kits to rural and underserved communities across America. The 2024 'Food for Thought' kit includes three activities: Food Fighters (a board game about food supply chain), Chew on This (food waste reduction challenge), and Know to Grow (plant science activity). This initiative builds on a 10-year partnership between Hughesnet and 4-H, which previously launched free online educational platforms featuring interactive content including augmented reality experiences focused on satellite communication and space exploration.

EchoStar (NASDAQ: SATS) reported financial results for Q3 2024, showing total revenue of $11.86 billion for the first nine months, down from $12.85 billion in the same period last year. The company posted a net loss of $454.78 million, compared to net income of $327.83 million in the year-ago period. Pay-TV subscribers decreased by 43,000 in Q3, while Sling TV gained 145,000 subscribers. The company announced plans to sell its pay-TV business to DIRECTV and secured $5.2 billion in additional financing. Retail Wireless subscribers increased by 62,000, excluding ACP subscribers, while Broadband Satellite subscribers decreased by 43,000.

EchoStar (SATS) has completed several strategic transactions to enhance its nationwide Open RAN 5G Network. The company secured overwhelming support from $5 billion of DISH Network convertible noteholders with over 96% participation in exchange offers. The transactions include the issuance of $2.3 billion in 6.75% Senior Spectrum Secured Exchange Notes and $1.9 billion in 3.875% Convertible Senior Notes, both due 2030. Additionally, EchoStar raised $5.2 billion through new Senior Spectrum Secured Notes and $400 million through a PIPE transaction. These moves significantly improve the company's debt maturity profile, leaving only $139 million in remaining debt maturities for 2024-2025.

Boost Mobile launches its exclusive Summit 5G smartphone, offering affordable 5G connectivity at $94.99, free for new customers porting their numbers, or $19.99 for existing customers upgrading. The device features a 6.6" HD+ display, dual cameras (13MP + 2MP), 5MP front camera, and 5000mAh battery. Powered by a 2.2 GHz Octa-core processor, it delivers smooth performance for streaming and gaming. When paired with Boost's $25/month plan, it represents the most budget-friendly 5G option across carriers, supported by Boost Mobile's nationwide network coverage.

EchoStar (NASDAQ: SATS) has scheduled a conference call to discuss its third quarter 2024 financial results on Tuesday, November 12, 2024, at 11 a.m. Eastern Time. The call will be available in listen-only mode through the company's investor relations website. Participants can join via dial-in numbers (877) 484-6065 (U.S.) or (201) 689-8846 using Conference ID 13750022. The financial results will be distributed prior to the call and posted on the company's investor relations website. A webcast replay will be available for 48 hours after the call.

Gogo Business Aviation announced that its Gogo Galileo HDX electronically steerable antenna (ESA) has passed FAA-mandated DO-160 qualification testing. The antenna, designed for business aircraft to access LEO satellite networks, can achieve peak speeds of 60 Mbps. The company plans to launch Gogo Galileo FDX in Q2 2025, offering speeds up to 200 Mbps for larger aircraft. Dealers have contracted 27 STCs covering over 18,000 aircraft globally. The system will connect to Eutelsat OneWeb LEO satellite network and is designed as an upgrade to existing AVANCE systems.

EchoStar (SATS) announced amendments to DISH DBS 's exchange offers for its outstanding notes. The key changes include: decreasing the Discount Amount to at least $1,498,625,000, increasing the Mandatory Exchange Consideration for certain notes, and extending the Expiration Time to November 12, 2024. The exchange offers cover various series of senior secured and senior notes due between 2026 and 2029. As of October 28, 2024, approximately $376 million in aggregate principal amount of notes had been tendered. The exchange offers are conditional upon receiving valid tenders from at least 66 2/3% of eligible holders for each series.