Dish DBS and the wireless business unit under EchoStar file for bankruptcy protection

Glonghui, July 1 — EchoStar’s satellite pay-TV business unit Dish DBS and its wireless subsidiary have filed for Chapter 11 bankruptcy protection, seeking court approval for a prearranged restructuring plan. This move aims to address imminent debt maturities and pave the way for the gradual exit of Dish Wireless’s 5G network business — previously, the company’s deal to sell spectrum licenses to AT&T experienced an unexpected delay. Dish DBS stated that the bankruptcy filing was made in the Houston Division of the U.S. Bankruptcy Court for the Southern District of Texas, mainly because the company is unable to repay $2 billion in senior secured notes with a 7.75% annual interest rate, which are due on July 1.