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EchoStar Corporation is a global satellite services provider and developer of hybrid video delivery technologies. EchoStar is the owner and operator of the satellite fleet for closely affiliated DISH Network. The company also designs and manufactures set-top boxes to receive the Freeview broadcasts in the United Kingdom, as well as receivers for Bell TV in Canada. EchoStar also owns Sling Media, which designs and builds the Slingbox TV streaming device, and satellite internet provider Hughes Communications. Prior to 2008, EchoStar operated the DISH Network service brand, the DISH Network brand was spun off as DISH Network Corporation on January 1, 2008. EchoStar Corporation (NASDAQ: SATS) and Hughes Communications, Inc. (NASDAQ: HUGH) announced today an agreement pursuant to which EchoStar will acquire all of the outstanding equity of Hughes and its subsidiaries including its main operating subsidiary, Hughes Network Systems, L.L.C. in a transaction valued at approximately $2 billion, including Hughes debt expected to be refinanced in connection with the transaction. EchoStar Corporation is recognized as a leader in the telecommunications industry for its innovation in satellite solutions and technology, and its broadcasting expertise. Hughes is the global leader in broadband satellite technologies and services, and a leading provider of managed network services. The transaction will greatly enhance EchoStar’s capabilities for broadband transport of video and data.
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