Latest news with #BoostMobile
Yahoo
5 days ago
- Business
- Yahoo
EchoStar Stock Soars on Report of White House Intervention on Spectrum Issue
President Donald Trump reportedly called on Dish Network parent EchoStar Chairman Charlie Ergen and FCC Chairman Brendan Carr to work out a deal on the satellite TV provider's spectrum. Bloomberg said the White House session came after the FCC launched an investigation into whether EchoStar was meeting its obligations for satellite and wireless rights. Trump is said to have told the two he didn't want to see an EchoStar go bankrupt over the Network owner EchoStar (SATS) shares skyrocketed 45% Monday morning on a report that President Donald Trump had intervened to help the satellite TV provider hold onto its valuable spectrum licenses. Bloomberg reported Friday that the president met with EchoStar Chairman Charlie Ergen and Federal Communications Commission (FCC) Chairman Brendan Carr at the White House and called on them to work out a deal. The report noted that the FCC had launched an investigation last month into whether the company was meeting certain obligations for its wireless and satellite rights. The Wall Street Journal reported earlier this month that EchoStar was considering filing for Chapter 11 bankruptcy to protect it from the possibility of losing those licenses. Bloomberg said Trump told Ergen and Carr he didn't want a major American company to go bankrupt, as it would cause uncertainties for other firms. EchoStar has missed several debt interest payments recently, writing in a regulatory filing that the FCC spectrum threats have "effectively frozen our ability to make decisions" about how to grow and invest in its Boost Mobile network. Investopedia has reached out to EchoStar for comment. With today's gains, shares of EchoStar moved into positive territory year-to-date. Read the original article on Investopedia Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Phone Arena
7 days ago
- Business
- Phone Arena
FCC Chairman Carr uses his bully pulpit to threaten EchoStar and Boost Mobile
Current FCC Chairman Brendan Carr has been threatening to take away spectrum licenses from EchoStar, the company that now owns Dish Network and Boost Mobile. To put this in perspective, you need to understand that when T-Mobile proposed to buy Sprint, it would have left the U.S. with only three major carriers. The FCC wanted to leave four facilities-based carriers competing in the country. A deal was worked out and Dish Network agreed to buy Sprint's Boost Mobile and build a standalone 5G network. Every couple of years, the FCC requires Dish to cover a certain percentage of the country with 5G signals and Dish has passed each test so far. However, as we get to the last two tests scheduled for 2026 and 2028, the areas that need to be covered are harder to reach and will be more expensive to cover. EchoStar bought Dish on the last day of 2023 but its coffers aren't exactly overflowing with cash at the moment. Current FCC Chairman Brendan Carr's threats against EchoStar are beginning to feel personal. | Image credit-X Even though EchoStar has until 2028 under renegotiated terms to meet the final coverage test, the FCC's Carr has really been handing out some threats from his bully pulpit. In a letter dated May 9th written to EchoStar Chairman Charlie Ergen, Carr threatened to revert back to the original deadlines that the FCC agreed to with Dish. If the FCC were to do that, the final goal would have to be met today, June 14th, which of course EchoStar can't do. In case you're curious, those targets, now scheduled for 2028, would require EchoStar to cover at least 70% of the population within each of its licensed geographic areas for its AWS-4 and 700 MHz licenses, and at least 75% of the population within each of its licensed geographic areas for its H Block and 600 MHz licenses. Carr's letter also pointed out that the reason for the buildout goals was to prevent spectrum warehousing. As you might have gathered by the name, this is when a company builds up a hoard of spectrum that it doesn't plan on using with the goal of selling it to a wireless firm for a profit down the road. EchoStar's Ergen always claimed to have the desire to run a wireless firm when he was Chairman of Dish Network (Dish did float a losing $25.5 billion bid for Sprint in 2013). While T-Mobile spent nearly $8 billion during FCC auction 1001 in 2017 to pick up 1,525 600MHz low-band licenses (which was used to build the carrier's nationwide 5G network), and earned the majority of the news coverage, under the radar Dish was the second biggest spender. Even though it didn't own any wireless businesses at the time, Ergen's company spent $6.2 billion for 482 licenses. This battle between the FCC and EchoStar is beginning to feel personal. In his letter, FCC Chairman Carr left a less than subtle hint that the regulatory agency isn't satisfied with the past buildout goals that were met by EchoStar. In fact, in plain English Carr wrote, "I have asked FCC staff to investigate EchoStar's compliance with its buildout milestones." Carr also writes that he has asked FCC staff to seek public comment about "reconsideration of the 2024 bureau-level extension of the 2019 Commission-level buildout." If this sounds like politics are involved, you might be right. SpaceX has been trying to get the U.S. to force EchoStar to takeaway EchoStar's 2GHz spectrum holdings claiming that EchoStar "barely" uses it. SpaceX has over 25,500MHz of spectrum it can use but it just so happens that EchoStar's airwaves are superior when it comes to providing satellite services to cell phones, a business that SpaceX has high hopes for. SpaceX is, of course, primarily owned by its founder, Elon Musk. Despite the recent breakup with President Donald Trump, a reconciliation seems likely so you can never rule out the possibility that Carr's animosity toward EchoStar is politically motivated as he is a Republican. EchoStar has yet to have the customer success it would like to have even though it has built a standalone 5G network that should soon cover 80% of the population. Last July, Boost Mobile and Boost Infinite combined and with more promotion, Boost Mobile's Infinite Access plan could be a winner. It offers subscribers an annual device upgrade along with the usual features you'd expect from a top-notch wireless plan for $65 per month for a single line. Switch to Total 5G+ Unlimited 3-Month plan or Total 5G Unlimited and get a free iPhone. We may earn a commission if you make a purchase Buy at Total Wireless
Sky News AU
10-06-2025
- Sky News AU
El Salvadorian restaurant staff praised for helping officers hurt in Los Angeles riots: ‘They're humans'
A Salvadorian restaurant owner helped cops who were hurt in the riots rocking Los Angeles, even though she sympathizes with some of the protesters — and footage of her actions is now going viral. 'They're humans,' eatery owner Elizabeth Mendoza told The Post of the injured officers she and her workers assisted as they sheltered in her Compton restaurant La Ceiba in the heat of the city's riots Saturday. 'And they were just doing their duty, trying to protect everyone around,' Mendoza said, explaining she didn't think twice when the cops asked for help. Mendoza and some other local Hispanic workers said that while they agree with the demonstrators' cause — migrants' rights — violence and looting are no way to achieve anything. 'Spray painting and all this damage, that's not helping anybody,'' said Pedro Perez, a worker at a nearby Boost Mobile that was damaged. 'And right here, where they were spray painting, mainly all these people are all Hispanic owners.' 'The whole point is to be united, and you guys are damaging your own people's businesses. I just think it's stupid,' he said. Mendoza said she was working at La Ceiba that afternoon as clashes across the city between police and demonstrators protesting ICE's recent mass arrests of illegal immigrants grew increasingly violent. As a face-off grew particularly heated nearby, several sheriff's deputies were caught in a cloud of tear gas and staggered into the restaurant and asked for help. Mendoza jumped into action and joined her staff, fanning down the cops and giving them milk to pour over their burning eyes — even letting one of the officers stand in the restaurant's freezer to cool down. The scene — of Latin Americans readily helping police hurt trying to contain protests for migrants — quickly gained attention online, with many praising Mendoza and her staff for their integrity and humanity. Mendoza, a US citizen who immigrated to the US 30 years ago, said she supported the protesters' cause, although she added that looting and violence were no way to achieve anything. 'Things should be done properly. That's not the way to handle the situation,' she said. The restaurant owner said many of the protesters are from her community — and ended up working to help protect her business from some of the vandals. 'There were a lot of people also protecting the restaurant. Most of the protesters around here, they are like family, so they were protecting the place,' she said. Not every business nearby was so lucky: Many in the strip mall neighboring La Ceiba were vandalized over the weekend. Mendoza said she is hopeful that the riots will calm down and that ICE won't deport hard workers who are truly in the US to chase the American dream. 'I want this to have a peaceful ending and to make them be smarter about deporting people and run background checks to make sure they are not deporting people who are just here for a better life,' she said of federal agents. 'They need to be deporting people who are really here for the wrong reasons.' LA's riots were sparked on Friday after ICE carried out several raids across the city and protesters attempted to intervene. Demonstrators eventually showed up at a downtown detention center where detainees were believed to be held, and after violence broke out in places, President Trump sent in the National Guard to quell the chaos. Originally published as El Salvadorian restaurant staff praised for helping officers hurt in Los Angeles riots: 'They're humans'
New York Post
10-06-2025
- New York Post
El Salvadorian restaurant staff praised for helping officers hurt in LA riots: ‘They're humans'
A Salvadorian restaurant owner helped cops who were hurt in the riots rocking Los Angeles, even though she sympathizes with some of the protesters — and footage of her actions is now going viral. 'They're humans,' eatery owner Elizabeth Mendoza told The Post of the injured officers she and her workers assisted as they sheltered in her Compton restaurant La Ceiba in the heat of the city's riots Saturday. 'And they were just doing their duty, trying to protect everyone around,' Mendoza said, explaining she didn't think twice when the cops asked for help. 5 Elizabeth Mendoza let police officers battling protestors into her restaurant to help them after they were teargassed. Ringo Chiu Mendoza and some other local Hispanic workers said that while they agree with the demonstrators' cause — migrants' rights — violence and looting are no way to achieve anything. 'Spray painting and all this damage, that's not helping anybody,'' said Pedro Perez, a worker at a nearby Boost Mobile that was damaged. 'And right here, where they were spray painting, mainly all these people are all Hispanic owners.' 'The whole point is to be united, and you guys are damaging your own people's businesses. I just think it's stupid,' he said. Mendoza said she was working at La Ceiba that afternoon as clashes across the city between police and demonstrators protesting ICE's recent mass arrests of illegal immigrants grew increasingly violent. As a face-off grew particularly heated nearby, several sheriff's deputies were caught in a cloud of tear gas and staggered into the restaurant and asked for help. 5 Mendoza immigrated to the US from El Salvador 30 years ago, and opened La Ceiba in 2015. Ringo Chiu Mendoza jumped into action and joined her staff, fanning down the cops and giving them milk to pour over their burning eyes — even letting one of the officers stand in the restaurant's freezer to cool down. The scene — of Latin Americans readily helping police hurt trying to contain protests for migrants — quickly gained attention online, with many praising Mendoza and her staff for their integrity and humanity. Mendoza, a US citizen who immigrated to the US 30 years ago, said she supported the protesters' cause, although she added that looting and violence were no way to achieve anything. 'Things should be done properly. That's not the way to handle the situation,' she said. 5 Los Angeles descended into chaos over the weekend with protests after ICE carried out mass raids on illegal immigrants AFP via Getty Images 5 A boarded-up T-Mobile in downtown Los Angeles was looted. Ringo Chiu The restaurant owner said many of the protesters are from her community — and ended up working to help protect her business from some of the vandals. 'There were a lot of people also protecting the restaurant. Most of the protesters around here, they are like family, so they were protecting the place,' she said. Not every business nearby was so lucky: Many in the strip mall neighboring La Ceiba were vandalized over the weekend. 5 Mendoza said she supports the protesters' cause but doesn't believe in rioting or looting. Ringo Chiu Mendoza said she is hopeful that the riots will calm down and that ICE won't deport hard workers who are truly in the US to chase the American dream. 'I want this to have a peaceful ending and to make them be smarter about deporting people and run background checks to make sure they are not deporting people who are just here for a better life,' she said of federal agents. 'They need to be deporting people who are really here for the wrong reasons.' LA's riots were sparked on Friday after ICE carried out several raids across the city and protesters attempted to intervene. Demonstrators eventually showed up at a downtown detention center where detainees were believed to be held, and after violence broke out in places, President Trump sent in the National Guard to quell the chaos.
Yahoo
09-06-2025
- Business
- Yahoo
Why EchoStar Stock Is Falling Today
EchoStar has been under regulatory pressure over its use of the spectrum earmarked for a new nationwide cellular carrier. The company reportedly could consider a bankruptcy filing to help shield its spectrum licenses from the threat of revocation. 10 stocks we like better than EchoStar › Telecom and satellite company EchoStar (NASDAQ: SATS) is reportedly considering a bankruptcy filing to protect its spectrum licenses. Investors are not taking the threat lightly, sending EchoStar shares down as much as 15% at the open and down 8% as of 11 a.m. Eastern. EchoStar is a satellite television and communications company currently focused on growing a nationwide cellular business. The company owns Boost Mobile, the nation's fourth-largest wireless carrier, and is building out the network using its spectrum holdings. But regulators appear to be growing impatient with the company's progress. Reports surfaced last month that the Federal Communications Commission has opened an investigation into EchoStar's compliance with federal requirements to build out a nationwide 5G network according to milestones set in 2019. EchoStar responded with evidence that it is indeed building out the network as required, but the spectrum resources are valuable and coveted by several companies. Included in that list is SpaceX, whose chairman, Elon Musk, has complained about EchoStar's progress and demanded the spectrum be opened to other users, including SpaceX's Starlink. Late Friday, The Wall Street Journal reported EchoStar is considering a Chapter 11 bankruptcy filing as a way to shield its spectrum licenses from the threat of revocation. In theory, a filing would leave decisions about the spectrum up to a judge, not regulators. Given EchoStar's structure, it is not entirely out of the question that shareholders would get something out of a bankruptcy. But it is a very high-risk bet. In bankruptcy, equity holders have the least protection, and shares are often zeroed out. EchoStar declined to comment on the bankruptcy rumors, and a filing is far from certain. Political winds change direction quickly, and it is possible recent events in Washington could cause the FCC not to prioritize the EchoStar spectrum. If the company does file, debt holders are likely to capture a lot of the value of the reorganized company. There's a lot of risk to EchoStar right now, but also a lot of potential value if the company is allowed to continue on its path toward building Boost Mobile. Investors considering buying in should be prepared for further turbulence and limit EchoStar to a small part of a well-diversified portfolio. Before you buy stock in EchoStar, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and EchoStar wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $669,517!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $868,615!* Now, it's worth noting Stock Advisor's total average return is 792% — a market-crushing outperformance compared to 173% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 9, 2025 Lou Whiteman has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Why EchoStar Stock Is Falling Today was originally published by The Motley Fool
