DISH Network Acquires Echostar’s Broadcast Satellite Service Business
DISH Network will acquire EchoStar’s Broadcast Satellite Service (BSS) business. More specifically, Echostar will transfer certain operations and other assets that comprise the company’s Broadcast Satellite Service (BSS) business, including nine Direct Broadcast Satellites (DBS) and the certain key employees responsible for satellite operations, licensing for the 61.5-degree orbital slot, and select real estate properties to DISH in exchange for approximately 22.9 million shares of DISH Network stock that will be distributed to EchoStar shareholders.
DBS spacecraft involved in the transaction will include EchoStar VII, EchoStar X, EchoStar XI, EchoStar XII, EchoStar XIV, EchoStar XVI, EchoStar XXIII, Nimiq 5 and QuetzSat-1.
“In 2017, when DISH acquired the EchoStar assets that we needed to deliver the DISH TV and Sling TV customer experiences, key broadcast satellite operations and services remained with EchoStar,” said DISH President and CEO Erik Carlson. “This transaction brings those operations, including the BSS satellites, associated assets and key team members, in house and we expect those additions will create operational efficiencies and improve both free cash flow and EBITDA.”