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Hedge funds such as Silver Point Capital, Redwood Capital Management, and Monarch Alternative Capital have gained significantly from EchoStar Corp's $17 billion sale of wireless spectrum to SpaceX. This transaction resolves a struggle with billionaire Charlie Ergen over corporate debt and asset transfers, allowing EchoStar to repay nearly $8 billion in notes.

The sale, which follows AT&T's $23 billion acquisition of other EchoStar rights, led to a surge in EchoStar's share prices, benefiting those hedge funds that had heavily invested in its capital structure. However, some creditors remain cautious due to ongoing litigation.