Few businesses have presented more of a paradox than EchoStar. On the one hand, it had a portfolio of largely fallow wireless licenses from the Federal Communications Commission worth many tens of billions of dollars. On the other hand, it hemorrhaged cash, had approximately $24 billion of debt at high interest rates, and teetered on the brink of bankruptcy with seemingly no possible escape?
In the past few months, a miraculous escape was found, and EchoStar went from Skid Row to the Yellow Brick Road. What happened?
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