Activist investor Carronade Capital Management has called on satellite communications company Viasat Inc. to separate its defense business from its broadband operations as part of an ongoing strategic review. Carronade, which holds a 2.3% stake in Viasat and has $30 million in debt exposure, estimates that spinning off the defense unit could unlock up to $11 billion in additional value, potentially increasing the company’s total valuation by over 500%. This push comes amid Viasat’s stock having declined approximately 60% due to increased competition in the broadband sector. The hedge fund is advocating for an accelerated review process to realize these potential gains. Meanwhile, EchoStar faces regulatory pressure from the Federal Communications Commission regarding its AWS-4 spectrum license, with the FCC threatening revocation due to non-use. EchoStar attributes the stalled 5G deployment plans to the FCC’s actions, although negotiations are ongoing following a meeting involving former President Donald Trump. EchoStar has resumed bond payments amid these developments, while SpaceX is also challenging the regulatory environment.