EchoStar's Ergen reportedly met with President Trump. Here's the latest

Shares of EchoStar were up more than 45 percent after a report surfaced that President Trump intervened in the dramatic conflict involving EchoStar Chairman Charlie Ergen and Federal Communications Commission Chairman Brendan Carr. According to Bloomberg, Ergen met with President Trump on June 12, a day after a long-awaited meeting with FCC Chairman Brendan Carr. In the meeting with Carr, Ergen reportedly was told that EchoStar needs to start selling some of its spectrum licenses or risk losing them. The spectrum licenses are conditional on EchoStar meeting certain 5G buildout milestones. We don’t know exactly what transpired in these meetings, but apparently during Ergen’s meeting with President Trump, the president phoned Carr, who joined the meeting at the Oval Office. Among the topics they discussed was whether Ergen’s political donations included both Republican and Democrat candidates.