Levin: Despite DOJ Concerns, EchoStar Spectrum Deals Likely in the Clear

WASHINGTON, Sept. 30, 2025 – EchoStar likely wouldn’t face regulatory roadblocks if it reaches a deal to sell its AWS-3 spectrum to Verizon, New Street Research analysts wrote Tuesday.

Bloomberg reported Monday evening that the companies were nearing a deal. The news came after EchoStar agreed to sell much of its spectrum portfolio to AT&T and SpaceX for $40 billion, both efforts to satisfy a Federal Communications Commission that was concerned the company was warehousing spectrum.

AT&T would acquire EchoStar’s 600 MegaHertz (MHz) and 3.45 GHz licenses for $23 billion, and SpaceX would take the company’s AWS-4/2 GHz and PCS H-block licenses for $17 billion. Those deals, which also need the Department of Justice and FCC to sign off, are likely in the clear as well, New Street analyst Blair Levin wrote in a research note.