EchoStar stock drops nearly 3% as Crown Castle seeks $3.5 billion from Dish Wireless
EchoStar shares dropped 2.9% to $127.24 in midday trading Thursday after Crown Castle terminated a Dish Wireless agreement and said it will pursue over $3.5 billion in payments. The dispute comes as EchoStar restructures its wireless business and sells spectrum to SpaceX. Traders are watching FCC deadlines tied to SpaceX’s planned satellite-to-phone service using EchoStar spectrum.