The deal, announced at the beginning of August, would have seen MDA build satellites for the U.S. communications company’s low Earth orbit constellation to deliver satellite internet service to cellphones. EchoStar has abruptly scrapped that plan, selling its spectrum rights to Elon Musk’s SpaceX instead. MDA’s share price fell more than 25 per cent Monday. (The Logic)

Talking point: SpaceX had been complaining that EchoStar was too slow to put its spectrum rights to use—and seemed to have a friendly ear in Federal Communications Commission chairman (and Donald Trump loyalist) Brendan Carr. The “arbitrary and unexpected development” won’t affect MDA’s financial results this year, CEO Mike Greenley said in a short-notice analyst call, though it puts a dent in MDA’s still-substantial pipeline of business. Greenley said MDA hopes to sell the direct-to-cell technology it developed for EchoStar to other customers.