EchoStar Completes Split Of Company
[1-3-08 – Satellite Today] EchoStar Communications Corp. has split into two businesses, effective Jan. 1, the company announced.
Under the plan, unveiled in September, EchoStar will change its name to Dish Network Corp. and retain the pay-TV business and Dish Network. EchoStar Holding Corp. will hold the technology infrastructure, which includes EchoStar’s satellites, uplink centers and spectrum licenses not considered core to Dish Network’s subscriber business, as well as the set-top box business and certain satellite assets used to provide fixed satellite services to third parties and international operations.
Each shareholder of EchoStar Communications Corp. will receive 0.20 of a share of EchoStar Holding Corp. stock, which began trade on the Nasdaq market Jan. 2.
Charlie Ergen will continue to serve as chairman and CEO of Dish Network and the spin-off company.