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SpaceX has bought $17 billion worth of satellite spectrum from debt-ridden operator EchoStar to enhance Starlink direct-to-cell phone performance.

EchoStar to have $24B cash after selling wireless spectrum to AT&T & SpaceX, easing debt and boosting 5G plans.

EchoStar’s stock soared further into record territory after a $17 billion deal to sell spectrum to Elon Musk’s SpaceX.

By acquiring the right spectrum, Starlink positions itself not as a replacement for mobile network operators, but as a critical networking partner.