Echostar Receives FCC Approval for 5G Buildout Boost Network Framework

Echostar experienced a significant rise in after-hours trading on Friday after receiving approval from the Federal Communications Commission (FCC) for its 5G network buildout plan for the Boost Mobile Network, intensifying competition within the wireless sector.

EchoStar Corporation saw an increase of over 4% in after-hours trading. Following the FCC’s approval, the company announced that its Boost Mobile Network is set to cover 80% of the U.S. population by the year’s end, an improvement from its 2023 obligation to cover 70%.

As per the FCC’s requirements, EchoStar must provide a low-cost wireless plan and a 5G device nationwide, including in regions where it relies on roaming partners for service coverage.

The company’s wholesale agreements with major carriers would enable customers to enroll in Boost Mobile service, even in locations where EchoStar has yet to establish its own network.

Additionally, small wireless carriers and Tribal nations will have the opportunity to lease EchoStar’s spectrum licenses in areas where the company has not deployed its services yet.