EchoStar to sell wireless spectrum licenses to SpaceX for $2.6 billion in stock, with a leadership transition. EchoStar also unveils new investment arm EchoStar Capital and reports Q3 results with a $16.48 billion impairment charge. Shares down 1%. The AWS-3 licenses cover U.S. airwaves for mobile and satellite communications.

EchoStar CEO Akhavan sees potential in combining wireless airwaves with SpaceX’s capabilities for direct-to-cell services. Akhavan now heads investment arm, while co-founder Ergen leads the company. Current operations of Dish TV, Sling TV, Boost Mobile, and Hughes will not be affected by SpaceX deal. FCC terminates 5G buildout investigation after deals with SpaceX and AT&T.

EchoStar previously sold wireless spectrum licenses to AT&T for $23 billion in August. AT&T acquired 50 MHz of mid-band and low-band spectrum. SpaceX deal expands on a $17 billion agreement from September. FCC approves EchoStar’s deals with SpaceX and AT&T.

Read more at Yahoo Finance: EchoStar to sell more spectrum licenses to SpaceX for $2.6 billion