TAMPA, Fla. — AST SpaceMobile has reached a deal enabling bankrupt satellite operator Ligado Networks to pay the more than $500 million it owes Viasat, in exchange for long-term access to L-band spectrum to boost its planned direct-to-smartphone services.

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Jason Rainbow writes about satellite telecom, finance and commercial markets for SpaceNews. He has spent more than a decade covering the global space industry as a business journalist. Previously, he was Group Editor-in-Chief for Finance Information Group,...