Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Business Leaders  >  All news

Business Leaders

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors 
HomeAll newsMost read newsBusiness Leaders Biography
Birthday : 06/16/1947
Place of birth : France
Linked companies : Johnson Matthey PLC - Akzo Nobel NV
Biography : Patrick Webster Thomas is a British businessperson who has been the head of 5 different companies an

Dish Network Buys EchoStar Broadcast Satellite Business

share with twitter share with LinkedIn share with facebook
share via e-mail
0
05/20/2019 | 06:55am EDT

By Patrick Thomas

Dish Network Corp. said Monday that it will acquire parts of satellite company EchoStar Corp. in an all-stock deal valued at about $800 million.

The Colorado-based Dish said it will acquire EchoStar's broadcast satellite-service business, which includes nine direct broadcast satellites and select real estate properties.

The deal is expected to close in the second half of 2019. Dish said its expects the deal to create operational efficiencies and improve its free cash flow.

Dish acquired certain EchoStar assets back in 2017.

"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 Erik Carlson, Dish's chief executive, in prepared remarks. "This transaction brings those operations, including the BSS satellites, associated assets and key team members, in house.

The U.S. pay-TV sector has been shrinking in recent years as price-conscious cord-cutters drop expensive cable and satellite-TV connections in search of other forms of entertainment. Dish offset some of those losses by launching online-only Sling TV in 2015, though growth in this market has also slowed in recent months.

Write to Patrick Thomas at Patrick.Thomas@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
DISH NETWORK CORPORATION 0.28% 39.1 Delayed Quote.56.15%
ECHOSTAR CORPORATION 0.70% 43.14 Delayed Quote.16.67%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
1  2  3  4  5  6  7  8  9  10Next

Advertisement