EchoStar has secured a financial lifeline from Elon Musk, whose SpaceX has agreed to pay $17 billion to acquire large amounts of its wireless spectrum. The parent company of Dish Network has been transitioning to wireless over the past few years as the pay-TV business continues to erode.

SpaceX will pay $17B to EchoStar for wireless spectrum, expanding Starlink’s direct-to-cell service and reshaping U.S. telecom.

Dish Network’s long-shot bid to become the fourth national wireless carrier in the US is officially over. Parent company EchoStar announced today that it has agreed to sell a major portion of Dish’s 5G and LTE spectrum licenses to AT&T for $23 billion,