EchoStar slides after suspending another interest payment as FCC probe continues

EchoStar's SATS.O shares down 9.5% to $16.48 on Tues after saying it would not make another interest payment amid Federal Communications Commission probe

Dish Network pay-TV and Boost Mobile wireless service owner said late Mon it would not make a $183 mln cash interest payment related to its Dish DBS company due that day, according to a SECfiling

Before the bell on Fri, co said it elected not to make a $326 mln interest payment related to its spectrum business

Co said it is skipping these payments due to uncertainty surrounding an FCC review

Last month, the FCC notified EchoStar it was investigating co's compliance with certain federal obligations to provide 5G service in the U.S., and raising questions about EchoStar's buildout extension and mobile-satellite service

The FCC could reverse prior grants of authority to EchoStar if the commission determines a lack of compliance, co said

EchoStar has a 30-day grace period to make interest payments before the non-payment constitutes an event of default

With move on the session, SATS shares down ~28% YTD. Stock has roughly halved from 52-week intraday high of $32.48 hit in early Mar