Dish Network Corp. has reached an agreement with sister company EchoStarCorp. to acquire EchoStar’s Broadcast Satellite Service business, including nine direct broadcast satellites and the key employees responsible for satellite operations.
The all-stock deal is valued at about $800 million and includes licensing for an orbital slot and select real estate properties, all in exchange for about 22.9 million shares of Dish stock that will be distributed to EchoStar (Nasdaq: SATS) shareholders.
This isn’t the first time Dish (Nasdaq: DISH) acquired EchoStar assets: The company did so in 2017 to deliver better customer experiences to Dish TV and Sling TV customers.
At the time, key broadcast satellite operations remained with EchoStar, and this transaction brings them into the fold for Dish.
Read more at the Denver Business Journal.
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