Satellite company Eutelsat announced Monday that it anticipates receiving $504 million in incentive payments connected to a U.S. government initiative aimed at opening up airwaves for next-generation mobile and wireless technology.
The U.S. Federal Communications Commission has given its approval to a plan that would shift satellite operations out of a segment of the C-band radio spectrum. That move would free up 160 megahertz of capacity for telecommunications companies to use in building out faster wireless networks.
According to Eutelsat, the $504 million payment is expected to arrive in 2031, but only if the Paris-based company successfully completes its transition by deadlines set for 2030 and 2031 — all while keeping services running for its existing customers. The company will also be reimbursed for expenses incurred during the move.
