EchoStar Corporation has completed its acquisition of DISH Network Corporation through a strategic merger, solidifying DISH Network as a wholly owned subsidiary of EchoStar. The transaction involved the conversion of DISH Network Class A Common Stock, DISH Network Class C Common Stock, and DISH Network Class B Common Stock into shares of EchoStar Class A Common Stock and EchoStar Class B Common Stock.
Hamid Akhavan, President and Chief Executive Officer of EchoStar, said: “This merger brings us one step closer to our goal of offering ubiquitous connectivity to people, enterprises and things, everywhere. Together we’re better positioned to realize the connected future by leveraging every type of transport, combined with smart, enabling technologies and fully integrated services. Our superior portfolio of technology, spectrum, engineering, manufacturing and network management expertise will deliver the unparalleled connectivity solutions that customers demand.”
The strategic combination unites DISH Network’s satellite technology, streaming services, and nationwide 5G network with EchoStar’s satellite communications solutions, establishing a global leader in terrestrial and non-terrestrial wireless connectivity. DISH Network’s successful 5G wireless network, covering over 70% of the US population, complements EchoStar’s achievements, such as the recent launch of the Jupiter 3 satellite with significant capacity for terrestrial and non-terrestrial services.
Charles Ergen, Executive Chairman of the Board of EchoStar, added: “The completion of this merger marks an important milestone for our company and our customers, launching a new era of connectivity. We have brought together two trailblazing companies with complementary portfolios to create a global connectivity leader with premier wireless, satellite, and video distribution capabilities. Together, EchoStar and DISH offer an enhanced consumer connectivity business and an unmatched enterprise-managed services business. In a world that is increasingly wireless, we are well-positioned to drive revenue and profitable growth.”
The newly combined company, headquartered in Englewood, Colorado, operates globally under established consumer and business brands, including Boost Mobile, Boost Infinite, Sling TV, DISH TV, EchoStar, Hughes, and Jupiter satellite services.
John Swieringa, President, Technology & Chief Operating Officer of EchoStar, stated: “Bridging the digital divide and seamlessly connecting people, enterprises, and things is essential in the digital-first economy. Our combined brands, technology and operational and engineering resources uniquely position EchoStar to provide a compelling global offering that connects consumers to the internet access, mobile phone service, television programming, and streaming content they want, as well as delivering business and government customers the secure terrestrial, non-terrestrial, and hybrid connectivity solutions they need.”
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