Charlie Ergen’s EchoStar saw its stock head skyward after unveiling plans to sell spectrum licenses to AT&T for $23 billion, a move that will shore up its finances and, it hopes, resolve an inquiry by the FCC .

Shares surged 80% to $54, an all-time high.

The agency led by Brendar Carr, which needs to approve the deal, is currently pursuing an inquiry around EchoStar’s spectrum use.

The operations of EchoStar’s other businesses, including DISH TV, Sling and Hughes, will not be impacted by the transaction, the company said.

Specifically, the deal calls for a sale of EchoStar’s 3.45 GHz and 600 MHz spectrum licenses — a total of 50 MHz of nationwide spectrum — to the telecom giant. In addition, the two companies amended their network services agreement to create a hybrid mobile netw

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