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EchoStar’s Hughesnet falls victim to Starlink.
The original satellite internet company “for rural America” has filed for bankruptcy after running out of cash and hemorrhaging subscribers to SpaceX. The service will continue to operate during proceedings, but will pivot away from consumers to focus on businesses and governments. It follows EchoStar’s Dish filing for chapter 11 protection in June. [Link: With Subscriber Counts Decimated by Starlink, Hughesnet Files for Bankruptcy | https://www.pcmag.com/news/with-subscriber-counts-decimated-by-starlink-hughesnet-files-for-bankruptcy | PCMAG]
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cryptobriefing.com
Hughes Satellite Systems files for Chapter 11 bankruptcy with $1.5 billion debt deadline looming
Hughes Satellite Systems files Chapter 11 bankruptcy facing $1.5 billion debt maturity with only $102 million cash, the second EchoStar
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spacenews.com
Hughes files for bankruptcy after GEO business loses ground to Starlink
EchoStar’s Hughes geostationary satellite broadband business has filed for bankruptcy in the United States after years of mounting competition from SpaceX’s Starlink constellation.
