Liberty Latin America acquires spectrum and 85,000 subscribers from EchoStar

Liberty Latin America announced that it has closed on the acquisition of EchoStar (SATS) spectrum assets in Puerto Rico and the U.S. Virgin Islands, as well as approximately 85,000 prepaid mobile subscribers. This follows a review by the Antitrust Division of the U.S. Department of Justice and the approval of the Federal Communications Commission, which in its August 9, 2024 approval found that the transaction is likely to result in public interest benefits, such as increased competition in Puerto Rico and the U.S. Virgin Islands.

The total purchase price for the assets of $255 million will be paid in four annual installments, commencing on the closing date, with the first installment of $95 million paid today. Liberty Latin America expects to fund the transaction through local liquidity sources, including cash on hand, cash generated from operations or revolving credit facilities.