EchoStar Drops on Report It’s Weighing Potential Bankruptcy

EchoStar shares are down 23% in postmarket trading after the Wall Street Journal reported it’s weighing a potential chapter 11 bankruptcy filing amid a Federal Communications Commission review of certain of its wireless and satellite spectrum rights, citing people familiar with the matter.

• An EchoStar representative told the WSJ “we will not comment on rumors or speculation”
  • “EchoStar remains focused on delivering ubiquitous connectivity to our customers across the globe and bringing consumers a competitive alternative to incumbent wireless providers.”
• NOTE: June 2, EchoStar Bond Woes Grow as Dish Network Interest Payment Skipped

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