ENGLEWOOD, Colo.—Dish Network and EchoStar have reached an agreement that will see Dish taking over elements of EchoStar’s Broadcast Satellite Services business.
In exchange for 22.9 million shares of Dish Network stock, valued at approximately $800 million, EchoStar will transfer nine direct broadcast satellites, key employees responsible for satellite operation, licensing for the 61.5-degree orbital slot and select real estate properties to Dish. The shares will be distributed to EchoStar stakeholders.
The DBS spacecraft involved in the transaction include the EchoStar VII, EchoStar X, EchoStar XI, EchoStar XII, EchoStar XIV, EchoStar XVI, EchoStar XXIII, Nimiq 5 and QuetzSat-1.
Dish had previously acquired EchoStar assets to help deliver Dish TV and Sling TV customer experiences in 2017. This new acquisition brings certain elements that were omitted from that acquisition in house for Dish, according to Dish President and CEO Erik Carlson.
The deal is expected to be finalized in the second half of 2019, subject to the satisfaction or waiver of closing conditions.