AT&T will spend $23 billion to acquire certain wireless spectrum licenses from Englewood-based EchoStar, a significant expansion of AT&T’s low- and mid-band coverage networks.

EchoStar had been seeking to shield its cache of wireless spectrum licenses from the threat of revocation by the FCC.

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.