For years, EchoStar ( SATS ) has been a tangled web of spectrum licenses, legacy satellite assets, and a massive debt load that many feared would lead to a donut for equity holders. However, following two transformative deals in late FY25, SATS has a path toAnalyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am n ...