{"id":3440,"date":"2026-08-05T14:04:42","date_gmt":"2026-08-05T14:04:42","guid":{"rendered":"https:\/\/coloradospringsmoverss.com\/?p=3440"},"modified":"2026-08-05T14:04:42","modified_gmt":"2026-08-05T14:04:42","slug":"echostar-puts-another-subsidiary-under-bankruptcy-protection","status":"publish","type":"post","link":"https:\/\/coloradospringsmoverss.com\/?p=3440","title":{"rendered":"Echostar puts another subsidiary under bankruptcy protection"},"content":{"rendered":"
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EchoStar Corp. failed to make $1.5 billion in debt payments owed by its Hughes Satellite Systems subsidiaries, triggering a second wave of bankruptcy filings in a little over a month.<\/p>\n

Read more Colorado could owe feds $8 million from improper Medicaid payments, audit says<\/a><\/p>\n

On June 30, the Douglas County company put its satellite television and wireless subsidiaries under bankruptcy protection after lacking the resources needed to pay back $4.75 billion owed to creditors.<\/p>\n

On Aug 3, it did the same for its consumer satellite business after it couldn\u2019t repay or refinance $750 million in secured and $750 million in unsecured debts that were due at the start of the month.<\/p>\n

Hughes operates a network of geostationary communications satellites (GEO) that are struggling to compete with Starlink, the Low Earth Orbit (LEO) satellite network that SpaceX has built.<\/p>\n

The number of broadband subscribers at Hughes has dropped nearly 22% to 641,000 customers in the past year, according to a court filing made by Robert del Genio, the company\u2019s chief restructuring officer.<\/p>\n

\u201cThe company does not expect this trend to reverse,\u201d he wrote.\u00a0\u201cLEO satellite competition is structural, not cyclical, and the company\u2019s competitors continue to expand coverage and reduce costs.\u201d<\/p>\n

Hughes customers, as with the wireless and TV side, should see no disruption to service and the parent company, EchoStar, remains shielded from the process.<\/p>\n

That said, Hughes plans to pivot away from its consumer business to focus on enterprise and commercial customers.<\/p>\n

Read more Denver family\u2019s home lost to foreclosure sits empty in legal limbo: \u2018The system feels like gangsters\u2019<\/a><\/p>\n

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One reason the company has struggled is that its GEO satellites, which are about 22,000 miles above the earth, have a latency or signal transfer time of about 600 milliseconds.<\/p>\n

LEO systems, which orbit closer to Earth, have a latency of about 20 to 40 milliseconds while handling larger volumes of data.<\/p>\n

EchoStar, under pressure from federal regulators, arranged two large sales of its wireless spectrum last year \u2014 $23 billion to AT&T and $17 billion to SpaceX. <\/p>\n

But payments from those sales are still pending and have failed to come in time to allow the company to meet its obligations to creditors.<\/p>\n

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EchoStar was able to reach terms with its DISH creditors, resulting in a prepackaged Chapter 11 filing. But that was not the case with Hughes Satellite creditors.<\/p>\n

Hughes, which is based in Maryland, informed 400 employees in late July that they would be laid off starting in late September.<\/p>\n

EchoStar ranks as Colorado\u2019s second-largest company in market value after Newmont Mining. Its shares rose nearly 7% in trading on Tuesday, reflecting a better than expected earnings report on Monday.<\/p>\n

Read more Denver school board members fall short in push to restart talks about Alex Marrero\u2019s future<\/a><\/p>\n

Get more business news by signing up for our Economy Now newsletter.<\/em><\/p>\n<\/p>\n<\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

EchoStar Corp. failed to make $1.5 billion in debt payments owed by its Hughes Satellite Systems subsidiaries, triggering a second wave of bankruptcy filings in a little over a month.<\/p>\n","protected":false},"author":1,"featured_media":3439,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,4],"tags":[],"class_list":["post-3440","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-news"],"yoast_head":"\nEchostar puts another subsidiary under bankruptcy protection - Colorado Springs Moverss<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coloradospringsmoverss.com\/?p=3440\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Echostar puts another subsidiary under bankruptcy protection - 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