DISH Network Corp. completed the acquisition of EchoStar Corp.'s broadcast satellite service division in a tax-free all-stock deal.
Pursuant to the deal, each holder of shares of class A or class B common stock of EchoStar who was entitled to receive the consideration in the transaction received 1 share of common stock of EchoStar BSS Corp., for each share of EchoStar class A or class B common stock held by such holder.
Additionally, each EchoStar stockholder who was entitled to receive the consideration in the transaction received 0.23523769 share of DISH class A common stock for each share of common stock of EchoStar BSS they received under the deal.
Furthermore, following the completion of the deal, DISH subsidiary BSS Merger Sub Inc. merged with and into EchoStar BSS, with the latter continuing as a wholly owned subsidiary of DISH.
EchoStar's broadcast satellite service division manages, markets and provides broadcast satellite services primarily to DISH, Dish Mexico, S de RL de CV and their respective subsidiaries.
It also provides telemetry, tracking and control services to satellites owned by DISH and a portion of EchoStar's other businesses, and certain related assets and business operations.
