EchoStar has filed its Dish DBS satellite television business and wireless subsidiaries for Chapter 11 bankruptcy protection under a prepackaged restructuring supported by more than 88 percent of its creditors.
The filing follows delays in the company’s planned $23 billion wireless spectrum sale to AT&T (NYSE: T), which left Dish unable to repay $2 billion of senior secured notes that matured on July 1. The company expects to complete the restructuring and emerge from bankruptcy during the third quarter of 2026. The restructuring is designed to address near-term debt maturities while preserving value as EchoStar (Nasdaq: ECHO) awaits completion of the spectrum transaction. The plan is also expected to facilitate the wind-down of Dish Wireless‘s facilities-based 5G network operations, following the delayed sale that had been expected to fund both debt repayments and future investment. The company said all customer-facing operations, including Dish TV and Sling TV, will continue without interruption during the bankruptcy process.
White & Case is serving as legal advisor and FTI Consulting is acting as financial advisor on the restructuring.cxd