Dish Buying EchoStar's BSS Business for $809 Million Worth of Dish Stock
Dish Network is buying EchoStar's broadcast satellite service business for roughly $809 million of Dish stock, Dish said Monday. The deal includes nine direct broadcast satellites and some EchoStar personnel as well as licensing for an orbital slot, Dish said,…
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adding that it expects the buy to lead to operational efficiencies and improved cash flow. It said the transaction is expected to close in the second half of the year, assuming regulatory approvals. The satellites involved are EchoStar VII, EchoStar X, EchoStar XI, EchoStar XII, EchoStar XIV, EchoStar XVI, EchoStar XXIII, Nimiq 5 and QuetzSat-1, it said. EchoStar said the transaction will let it focus its efforts on its growing satellite broadband business while shedding "the risk associated with providing services to a solitary customer."