EchoStar Skips Bond Payment as FCC’s 5G Probe Heats Up

EchoStar Corp., the wireless and pay-TV operator controlled by billionaire Charlie Ergen, skipped an interest payment due Friday because of uncertainty about a regulatory probe.

The company said it won’t make a $326 million cash interest payment on its 10.75% senior spectrum secured notes due in 2029, citing impacts from a Federal Communications Commission review over its compliance with obligations to build a nationwide 5G network. It has a 30-day grace period to make the interest payment.