EchoStar Shares Rise After FCC Grants 5G Network Buildout Framework
By Sabela Ojea
Shares of EchoStar rose after it said the Federal Communications Commission granted its 5G network buildout framework.
The stock was up 5.6% to $27.51 in postmarket trading on Friday. Shares have surged 57% since the beginning of the year.
The telecommunications company, which provides technology, networking services, television entertainment and connectivity, merged with Dish Network at the end of last year. It said the updated framework would allow it to enhance the building out of its 5G boost mobile network.
By the end of 2024, EchoStar's boost mobile network will cover 80% of the U.S. population, the company said, adding it plans to accelerate and expand its final buildout milestones in more than 500 license areas.
Write to Sabela Ojea at sabela.ojea@wsj.com
(END) Dow Jones Newswires
September 20, 2024 18:01 ET (22:01 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
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