BTCC
/
BTCC Square
/
Global Cryptocurrency
/
MDA Space Shares Plummet 25% After EchoStar Terminates $1.3B Satellite Contract
MDA Space Shares Plummet 25% After EchoStar Terminates $1.3B Satellite Contract
17
3
BTCCSquare news:
MDA Space's stock suffered a 25% collapse after EchoStar abruptly canceled a $1.3 billion satellite constellation contract, opting instead to sell spectrum licenses to SpaceX. The Canadian aerospace firm will receive termination fees but loses transformative revenue from what WOULD have been its prime contractor role in EchoStar's LEO network.
EchoStar's strategic pivot toward SpaceX's Starlink infrastructure—including a $17 billion spectrum deal—effectively sidelines MDA from the burgeoning direct-to-cell satellite market. The August-signed agreement's dissolution demonstrates how quickly space industry alliances can unravel when heavyweight players like Elon Musk enter the fray.
By:
