Satellite and Communication Group Reaches Debt Agreement, Opens Door to Potential Bankruptcy Restructuring

On March 19, 2026, EchoStar Corporation (NASDAQ: SATS) and its subsidiary DISH DBS entered into a Restructuring Support Agreement with holders of multiple secured and unsecured notes to implement an out-of-court debt exchange or a voluntary Chapter 11 proceeding. The agreement calls for a cash settlement of approximately $75 million to noteholders; the conversion of existing DISH DBS notes into new exchange or amended notes; the repayment of affiliate loans following the closing of a separate AT&T spectrum sale; and specific milestones, including deadlines for filing, confirmation and effectiveness of a Chapter 11 plan. In return, the consenting noteholders have agreed to vote in favor of the agreed transactions and, if necessary, the Chapter 11 plan, waive remedies for defaults arising from the restructuring and dismiss certain litigation, in exchange for broad releases for EchoStar and DISH.

EchoStar has already secured funding for debt reduction and 5G investments by agreeing to sell wireless spectrum licenses to AT&T for roughly $23 billion and AWS-4 and H-block spectrum to SpaceX for about $17 billion. Since 2024, the company has also exited its video distribution operations—DISH, Sling TV and related services—to DirecTV, refocused its portfolio on extending debt maturities and concentrated its resources on building a nationwide 5G Open RAN network.

Headquartered in Colorado, EchoStar is a satellite communications and network services provider that, through its merger with DISH Network Corporation, now operates an integrated platform encompassing satellite television, streaming services and a 5G wireless network. DISH DBS is the group’s principal debt-issuing entity. Faced with subscriber declines and heavy network investment obligations, it has pursued repeated bond exchanges and restructuring talks since 2024. This new agreement is widely viewed as a watershed moment in the company’s debt-restructuring efforts.