EchoStar completes sale of BSS to Dish Network

Wednesday 11 September 2019 | 09:23 CET | News
EchoStar said the sale of its Broadcast Satellite Service (BSS) to Dish Network for USD 800 million has closed. The merger of the operations within Dish has also completed. EchoStar CEO Mike Dugan said the company will now focus on the growing broadband market and other strategic opportunities. 

The transaction was structured in a way as to be tax free to EchoStar and its stockholders. Under the agreement, BSS was first spun off and then integrated into Dish. During the spin-off phase, EchoStar shareholders received one share in the newly merged company, for each EchoStar share they had. In the next phase, the new company was fully merged into Dish. EchoStar shareholders then received 0.235 shares of Dish for each share they had in the newly merged company. Fractional shares held were exchanged for a cash consideration.

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Categories: Broadcast & Satellite / Broadcast & Satellite
Companies: Dish Network / EchoStar
Countries: United States
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