Dish DBS Files Chapter 11 With 88% Bondholder Backing as $20 Billion AT&T Spectrum Sale Stalls
Updated
Updated · Deadline · Jul 1
Dish DBS Files Chapter 11 With 88% Bondholder Backing as $20 Billion AT&T Spectrum Sale Stalls
3 articles · Updated · Deadline · Jul 1
Summary
Dish DBS sought Chapter 11 protection Tuesday in Houston under a prepackaged restructuring plan supported by 88% of its bondholders, with EchoStar expecting the unit to exit bankruptcy in the July-to-September quarter.
A delayed $20 billion spectrum-asset sale to AT&T helped trigger the filing, alongside mounting debt and litigation; EchoStar said it plans to repay most debt once that transaction closes.
EchoStar, which merged with Dish in 2024, has been struggling under $25 billion of debt as Charlie Ergen returned as chairman and CEO after warning bankruptcy was possible.
Dish's filing underscores the pressure on its shrinking pay-TV base—about 5 million satellite subscribers plus 2 million at Sling TV—as EchoStar tries to pivot toward the more regulated, riskier wireless business.