DISH to Acquire EchoStar's BSS Business (1 Viewer)

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Scott Greczkowski

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DISH to Acquire EchoStar's BSS Business in an All-Stock, Tax-Free Transaction Valued at Approximately $800 million
ENGLEWOOD, Colo., May 20, 2019 /PRNewswire/ -- DISH Network Corporation and EchoStar Corporation today announced they have executed an agreement that will transfer certain EchoStar operations and other assets that comprise the company's Broadcast Satellite Service (BSS) Business, including nine direct broadcast satellites 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 Corporation stock that will be distributed to EchoStar shareholders.

DISH_Network_Corporation_Logo.jpg


"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."

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.

The transaction is structured in a manner to be a tax-free exchange and is expected to close in the second half of 2019, subject to satisfaction or waiver of closing conditions.

BofA Merrill Lynch acted as financial advisor to DISH Network Corporation in the transaction. Sullivan & Cromwell LLP acted as legal counsel for DISH Network Corporation in the transaction.
 
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ncted

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So, Echostar spun off Dish in 2008, then Dish bought parts of Echostar in 2017 and 2019? I'm sure there are reasons...
 
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Ganthet

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It wouldn't surprise me if this was an organizational thing. All satellite assets are under one subsidiary, and possibly all wireless networking assets under another.
 

NYDutch

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It wouldn't surprise me if this was an organizational thing. All satellite assets are under one subsidiary, and possibly all wireless networking assets under another.

It appears Dish is consolidating DBS operations in-house, but Echostar still has about 15 satellites they use for other purposes ranging from Internet to POS terminal support..
 

ncted

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Either Charlie found some tax loop hole in either of the 2 companies or is planning on selling off Dish.

Which really selling dish was the reason for splitting Echostar in the first place

Was it? I thought the whole reason was to limit liability after the Tivo patent lawsuit.
 

Claude Greiner

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His wireless company would be useless without dish

Sent from my SM-G950U using the SatelliteGuys app!

The Dish company is going to become useless soon if he doesn’t get wireless.

Dish had the perfect opportunity with the blockbuster stores to push wireless if he had the system build out.

What Charlie needs to do is what the cable companies did and partner with Verizon and offer a version of Dish Mobile.

Maybe lease out some of the 5g spectrum they are hording and get the service launched today
 

Slamminc11

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The Dish company is going to become useless soon if he doesn’t get wireless.

Dish had the perfect opportunity with the blockbuster stores to push wireless if he had the system build out.

What Charlie needs to do is what the cable companies did and partner with Verizon and offer a version of Dish Mobile.

Maybe lease out some of the 5g spectrum they are hording and get the service launched today

I'm pretty sure Charlie has a long list of people he would be willing take the time to listen to before he would take any advice from you!
 

Claude Greiner

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I'm pretty sure Charlie has a long list of people he would be willing take the time to listen to before he would take any advice from you!

Yeah I’m sure. But the difference between me and some advisor is that I have been out in the field, I talk to customers every day and know what people are looking for in today’s market.

Charlie has been sitting in his glass office for too many years, and the writing is on the wall. His business is failing.

All this 5G and other wireless stuff should have been done years ago around 2012. Wireless should have been an option to deliver internet to Dish’s shrinking customer base.

The Dish will not survive on video as a stand alone product. People want internet and they are willing to dump dish to get a bundle from the cable company.

People call me up and say “hi, we have dish and need internet” and I usually respond back and say “let me see if we have any bundles to save you money so maybe you can get rid of Dish”

Then they always say they like dish, but when they find out they can get internet and tv through the cable company for the same price they are paying now with Dish, they are ready to dump them.

After the sale is finished I give the customer tips on how to cancel dish, explain the shipping and LNB policy and see how irritated they get over getting ripped off for cancelling.
 

navychop

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The commercial 5G stuff is just becoming available. And since the absolute final 5G spec is still not out, and this is what Charlie has been hawking as his intended path, I think he’s got an excellent reason for an extension on spectrum use.


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Claude Greiner

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The commercial 5G stuff is just becoming available. And since the absolute final 5G spec is still not out, and this is what Charlie has been hawking as his intended path, I think he’s got an excellent reason for an extension on spectrum use.


Sent from my iPhone using SatelliteGuys

I’m planning on writing a few letters to the FCC, members of Congress and anyone else who will listen to explain why the extension should not be granted.
 

nelson61

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Yeah I’m sure. But the difference between me and some advisor is that I have been out in the field, I talk to customers every day and know what people are looking for in today’s market.

Charlie has been sitting in his glass office for too many years, and the writing is on the wall. His business is failing.

All this 5G and other wireless stuff should have been done years ago around 2012. Wireless should have been an option to deliver internet to Dish’s shrinking customer base.

The Dish will not survive on video as a stand alone product. People want internet and they are willing to dump dish to get a bundle from the cable company.

People call me up and say “hi, we have dish and need internet” and I usually respond back and say “let me see if we have any bundles to save you money so maybe you can get rid of Dish”

Then they always say they like dish, but when they find out they can get internet and tv through the cable company for the same price they are paying now with Dish, they are ready to dump them.

After the sale is finished I give the customer tips on how to cancel dish, explain the shipping and LNB policy and see how irritated they get over getting ripped off for cancelling.
And that sums up quite nicely why satallite tv is shrinking. It's all about bundles and internet.

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using the SatelliteGuys app!
 
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