US Stock Movement｜EchoStar shares rise 5.5% pre-market after receiving FCC approval for $40 billion wireless spectrum deal

Glonghui, May 13｜EchoStar Communications (SATS.US) rose 5.5% in pre-market trading to $136.5. According to reports, the U.S. Federal Communications Commission (FCC) has approved EchoStar Communications' $40 billion deal to sell wireless spectrum to SpaceX and an exchange, believing that this move will enhance network connectivity across the United States. Specifically, EchoStar Communications will sell approximately 50 MHz of nationwide spectrum to an exchange for $23 billion to be used in its 5G network construction. Additionally, EchoStar will sell 65 MHz of spectrum to SpaceX for $17 billion to enhance Starlink's next-generation device-to-device communication services.