Silver Point, Redwood Reap Payouts on EchoStar Spectrum Sale (2)

EchoStar Corp.’s blockbuster sales of wireless spectrum deliver a windfall for investors including Silver Point Capital LP, Redwood Capital Management and Monarch Alternative Capital LP, whose long battle with billionaire Charlie Ergen and his wireless empire is finally paying off. For the funds, as many as three different winning trades are hitting at once.

The telecommunications company on Monday said it was selling spectrum licenses to Elon Musk’s SpaceX, which owns the Starlink satellite network, in a deal valued at $17 billion. That follows AT&T Inc.’s purchase in August of other spectrum rights for $23 ...