Charlie Ergen's CONX acquires 75% of HC2 Broadcasting for $105M
Charlie Ergen's SPAC, CONX, has agreed to acquire a 75% controlling interest in HC2 Broadcasting for $105 million. This deal positions HC2 Broadcasting's low-power television stations to potentially be leveraged for 5G Broadcast technology, an alternative to ATSC 3.0 for delivering video and data to mobile devices. The transaction requires FCC approval and has been sanctioned by the boards of Innovate and CONX.
Key Takeaways
- CONX, Charlie Ergen's SPAC, will acquire 75% of HC2 Broadcasting through a $105 million bridge loan agreement.
- HC2 Broadcasting operates 258 stations (202 LPTV, 53 Class A, 3 full-power) across more than 40 US states.
- The acquisition aligns with Ergen's interest in 5G Broadcast, an emerging 3GPP standard for delivering video/data to 5G devices.
- HC2 is actively campaigning for FCC adoption of the 5G Broadcast standard, proposing voluntary deployment for LPTV stations.
- Innovate's broadcasting unit reported Q1 2026 revenues of $5.3 million and a net loss of $17.2 million.
Why It Matters
This acquisition by Charlie Ergen's CONX positions HC2 Broadcasting's low-power TV stations as a potential foundation for 5G Broadcast in the US. By gaining control of a major LPTV operator, Ergen is making a direct play on leveraging broadcast spectrum for mobile data delivery, offering an alternative to ATSC 3.0 and offloading cellular networks. This move could accelerate the development and adoption of the 5G Broadcast standard if regulators approve, influencing how content and data are distributed to 5G devices. Industry watchers should monitor FCC actions regarding HC2's 5G Broadcast petition and the progress of its trials with a major US mobile carrier.
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