AT&T said on Tuesday it will purchase key wireless spectrum licenses from EchoStar for about $23 billion, as the the U.S. telecom provider seeks to boost its network in a competitive market.

For EchoStar, the infusion of $23 billion in cash will alleviate investor concerns over its significant debt. EchoStar’s deal to sell Dish Network to DirecTV last year was scrapped after EchoStar bondholders rejected the debt-exchange terms that would have reduced the vale of their holdings.

AT&T said Tuesday it would buy wireless licenses from EchoStar for $23 billion, after a years-long saga over what the latter would do with its vast spectrum holdings. Why it matters: EchoStar was reportedly under pressure from regulators to either start selling its spectrum or potentially lose it.