EchoStar Consummates Exchange Agreement for Tracking Stock

ENGLEWOOD, Colo., March 1, 2017 /PRNewswire/ -- EchoStar Corporation (NASDAQ:SATS) announced the consummation on February 28, 2017 of the Share Exchange Agreement executed in January with DISH Network Corporation (NASDAQ:DISH). The transaction took the form of an exchange by EchoStar of two companies that owned substantially all of the EchoStar Technologies businesses, along with other assets, for the HRG tracking stock that was issued to subsidiaries of DISH in March 2014.  EchoStar intends to promptly retire the HRG tracking stock. 

About EchoStar

EchoStar Corporation (NASDAQ: SATS) is a premier global provider of satellite communication solutions. Headquartered in Englewood, Colo., and conducting business around the globe, EchoStar is a pioneer in secure communications technologies through its Hughes Network Systems and EchoStar Satellite Services business segments.

For more information, visit echostar.com. Follow @EchoStar on Twitter.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

This press release may contain statements that are forward looking, as that term is defined by the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management's beliefs, as well as assumptions made by, and information currently available to, management. When used in this release, the words "believe," "anticipate," "estimate," "expect," "intend," "project," "plans," and similar expressions and the use of future dates are intended to identify forward looking statements. Although management believes that the expectations reflected in these forward looking statements are reasonable, it can give no assurance that these expectations will prove to have been correct. You are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date made. These statements are subject to certain risks, uncertainties, and assumptions. See "Risk Factors" in EchoStar's and HSSC's Annual Reports on Form 10-K for the year ended December 31, 2016 filed with the Securities and Exchange Commission and in the other documents EchoStar files with the Securities and Exchange Commission from time to time.  The forward-looking statements speak only as of the date made, and EchoStar Corporation expressly disclaims any obligation to update these forward-looking statements.

Contacts:
EchoStar Investor Relations
Deepak Dutt
[phone]
[e-mail]

EchoStar Marketing Communications
Doug Gunster
[phone]
[e-mail]

 

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SOURCE EchoStar Corporation

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