EchoStar
{{Short description|Global satellite services provider}}
{{for|the first incarnation of EchoStar|Dish Network}}
{{outdated|date=November 2024}}
{{Use mdy dates|date=January 2024}}
{{Infobox company
| name = EchoStar Corporation
| logo = EchoStar logo.svg
| type = Public
| traded_as = {{ubl|class=nowrap|{{NASDAQ|SATS}} (Class A)|S&P 400 component}}
| key_people = {{Unbulleted list
|Hamid Akhavan (CEO)
}}
| industry = Telecommunications
Satellite television
| products = Direct-broadcast satellite, pay television, pay-per-view, over-the-top media services, Mobile telephony, Wireless broadband
| revenue = {{increase}} {{US$|1.99 billion|link=yes}} (2021)
| operating_income = {{increase}} {{US$|217 million}} (2021)
| net_income = {{increase}} {{US$|62.7 million}} (2021)
| assets = {{decrease}} {{US$|6.05 billion}} (2021)
| equity = {{decrease}} {{US$|3.41 billion}} (2021)
| num_employees = {{circa|2,500}} (2021)
| subsid = {{ubl|Dish Network|Boost Mobile|EchoStar Mobile|Hughes Network Systems}}
| predecessor = The first incarnation of EchoStar (Dish Network)
| founded = {{Start date and age|2008|1|1}}
| defunct =
| fate =
| hq_location = Englewood, Colorado, U.S.
| website = {{url|echostar.com}}
| footnotes = {{Cite web |date=February 24, 2022 |title=EchoStar Corporation 2021 Annual Report (Form 10-K) |url=https://www.sec.gov/Archives/edgar/data/1415404/000141540422000005/sats-20211231.htm |url-status=live |archive-url=https://web.archive.org/web/20240102115451/https://www.sec.gov/Archives/edgar/data/1415404/000141540422000005/sats-20211231.htm |archive-date=January 2, 2024 |publisher=U.S. Securities and Exchange Commission }}
}}
EchoStar Corporation is an American telecommunications company that specializes in providing satellite communication, wireless telecommunications, and internet services. Its Hughes Network Systems and EchoStar Satellite Services business are operated from its headquarters in Arapahoe County, Colorado. The company also provides television services and mobile services. It is a spin-off of Dish Network, which was founded in 1980 as EchoStar Communications Corporation. This company was founded in 2008 after what is now Dish Network spun off its non-consumer assets. In an industry reverse, EchoStar proposed to buy Dish in 2023 with the acquisition being completed by the end of that year, as a result, Dish was absorbed into EchoStar as a whole.{{Cite news |last=Moritz |first=Scott |date=August 8, 2023 |title=Dish to Buy EchoStar as Ergen's TV Empire Shifts to Wireless |work=Bloomberg News |url=https://www.bloomberg.com/news/articles/2023-08-08/dish-proposes-to-buy-echostar-as-tv-empire-shifts-to-wireless |url-status=live |url-access=subscription |access-date=December 16, 2023 |archive-url=https://web.archive.org/web/20240102115812/https://www.bloomberg.com/news/articles/2023-08-08/dish-proposes-to-buy-echostar-as-tv-empire-shifts-to-wireless |archive-date=January 2, 2024 }} EchoStar made its debut on the Fortune 500 list in 2024, ranking #242.{{Cite web |title=EchoStar |url=https://fortune.com/company/echostar/ |access-date=2024-06-09 |website=Fortune |language=en}} Following the acquisition of Dish, EchoStar now owns Sling TV and Boost Mobile. Its main competitor is DirecTV, who failed to acquire Dish Network in 2024.
History
EchoStar was originally formed in 1980 by its chairman Charles Ergen as a distributor of C band TV systems. In 1987, it applied for a direct broadcast satellite (DBS) license with the Federal Communications Commission and was granted access to orbital slot 119° west longitude in 1992.
On December 28, 1995, the firm successfully launched its first satellite, EchoStar I.{{Cite web |last=Ford |first=Dominic |title=ECHOSTAR 1 |url=https://in-the-sky.org/spacecraft.php?id=23754 |url-status=live |archive-url=https://web.archive.org/web/20231011142643/https://in-the-sky.org/spacecraft.php?id=23754 |archive-date=October 11, 2023 |access-date=March 4, 2019 |website=in-the-sky.org }} On March 4, 1996, it established the Dish Network brand name to market its home satellite TV system.{{Cite news |last=Hogan |first=Monica |date=March 18, 2006 |title=EchoStar Toasts a Decade of Dish Network |work=Multichannel News |url=https://multichannel.com/news/echostar-toasts-decade-dish-network-301998 |url-status=live |access-date=March 4, 2019 |archive-url=https://web.archive.org/web/20231016160807/https://www.nexttv.com/news/echostar-toasts-decade-dish-network-301998 |archive-date=October 16, 2023 }}
On January 2, 2008, the Dish Network business was spun-off from the technology and infrastructure side of the business. A split in the shares created two companies; the former EchoStar Communications Corporation changed its name to Dish Network Corporation{{Cite web |title=SEC Filing |url=https://ir.dish.com/node/24801/html |url-status=live |archive-url=https://web.archive.org/web/20231011142527/https://ir.dish.com/node/24801/html |archive-date=October 11, 2023 |access-date=October 31, 2019 |website=ir.dish.com }} which consisted mainly of the Dish Network business, and EchoStar Corporation, which retained ownership of the technology side including the satellites, Sling Media, and the set-top box development arm. Dish Network completed its distribution to EchoStar of its digital set-top box business, certain infrastructure, and other assets and related liabilities, including certain of their satellites, uplink and satellite transmission assets, and real estate. Following the spin-off, EchoStar and Dish Network operated as separate publicly traded companies, until they were reunited in 2023.{{Cite web |last1=Savitz |first1=Eric |title=EchoStar Completes Spinoff; Worth More In Parts? |url=https://barrons.com/articles/BL-TB-5712 |url-access=subscription |url-status=live |archive-url=https://web.archive.org/web/20231011194454/https://www.barrons.com/articles/BL-TB-5712 |archive-date=October 11, 2023 |access-date=March 4, 2019 |website=www.barrons.com |publisher=Dow Jones & Company }}
On February 14, 2011, EchoStar announced that it would acquire Hughes Communications in a deal valued at US$1.3 billion.{{Cite news |last=de la Merced |first=Michael J. |date=February 14, 2011 |title=EchoStar in $1.3 Billion Deal for Hughes Communications |url=https://archive.nytimes.com/dealbook.nytimes.com/2011/02/14/echostar-to-buy-hughes-communications-for-1-3-billion/ |url-status=live |archive-url=https://web.archive.org/web/20240102120921/https://archive.nytimes.com/dealbook.nytimes.com/2011/02/14/echostar-to-buy-hughes-communications-for-1-3-billion/ |archive-date=January 2, 2024 |newspaper=The New York Times }}
On January 31, 2017, EchoStar announced that it had reached an agreement with DISH to transfer the EchoStar Technologies businesses, which designed, developed and distributed digital set-top boxes, provided satellite uplinking and broadcast services and developed and supported streaming video technology back to DISH.{{Cite press release |date=May 20, 2019 |title=EchoStar Announces Agreement to Transfer BSS Business to DISH |url=https://ir.echostar.com/news-releases/news-release-details/echostar-announces-agreement-transfer-bss-business-dish |url-status=live |archive-url=https://web.archive.org/web/20231016161212/https://ir.echostar.com/news-releases/news-release-details/echostar-announces-agreement-transfer-bss-business-dish |archive-date=October 16, 2023 |access-date=October 31, 2019 |publisher=EchoStar Corporation }} The transaction was completed on January 31, 2017,{{Cite press release |date=January 31, 2017 |title=EchoStar Announces Exchange Agreement for Tracking Stock |url=https://ir.echostar.com/news-releases/news-release-details/echostar-announces-exchange-agreement-tracking-stock |url-status=live |archive-url=https://web.archive.org/web/20231016161552/https://ir.echostar.com/news-releases/news-release-details/echostar-announces-exchange-agreement-tracking-stock |archive-date=October 16, 2023 |access-date=October 31, 2019 |publisher=EchoStar Corporation |language=en }} substantially returning DISH to its pre-2008 status as a set-top-box hardware manufacturer.
In March 2017, after two delays caused by weather worries, SpaceX delivered EchoStar XXIII into orbit. The satellite was launched on a Falcon 9 Rocket and provides broadcast services for Brazil.{{Cite news |last=Foust |first=Jeff |date=March 16, 2017 |title=SpaceX launches EchoStar 23 |work=SpaceNews |url=https://spacenews.com/spacex-launches-echostar-23/ |url-status=live |access-date=March 4, 2019 |archive-url=https://archive.today/20240102121222/https://spacenews.com/spacex-launches-echostar-23/ |archive-date=January 2, 2024 }} Because EchoStar XXIII is a heavy satellite, this mission did not include a rocket landing post-takeoff, as it would require too much fuel. This was the first time a purely commercial satellite was launched from a pad that once served as the base for Apollo moon trips and space shuttle flights.{{Cite news |last=Grush |first=Loren |date=March 13, 2017 |title=SpaceX successfully launched a communications satellite on its Falcon 9 rocket |work=The Verge |url=https://theverge.com/2017/3/13/14906732/spacex-falcon-9-rocket-launch-echostar-xxiii-satellite |url-status=live |access-date=August 7, 2017 |archive-url=https://web.archive.org/web/20221005221643/https://www.theverge.com/2017/3/13/14906732/spacex-falcon-9-rocket-launch-echostar-xxiii-satellite |archive-date=October 5, 2022 }}{{Cite news |last=Boyle |first=Alan |date=March 16, 2017 |title=After delay, SpaceX launches EchoStar satellite – but forgoes rocket landing |work=GeekWire |url=https://geekwire.com/2017/spacex-echostar-no-landing/ |url-status=live |access-date=August 7, 2017 |archive-url=https://web.archive.org/web/20170316111917/http://www.geekwire.com/2017/spacex-echostar-no-landing/ |archive-date=March 16, 2017 }}
On May 20, 2019, EchoStar announced that it had reached an agreement with Dish Network Corporation to transfer the portion of the business which managed and provided broadcast satellite services, referred to as the BSS (Broadcast Satellite Services) business, to Dish in order to concentrate on broadband services and other initiatives. The transaction was completed on September 10, 2019.{{Cite web |last=Henry |first=Caleb |date=2019-05-20 |title=EchoStar selling broadcast business, including nine satellites, to Dish for $800 million |url=https://spacenews.com/echostar-selling-broadcast-business-including-nine-satellites-to-dish-for-800-million/ |access-date=2025-05-08 |website=SpaceNews |language=en-US}}{{Cite web |last=Nyirady |first=Annamarie |date=2019-05-20 |title=DISH Network Acquires Echostar's Broadcast Satellite Service Business |url=https://www.satellitetoday.com/finance/2019/05/20/dish-network-acquires-echostars-broadcast-satellite-service-business/ |access-date=2025-05-08 |website=Via Satellite |language=en-US}}{{Cite web |last=Fletcher |first=Bevin |date=2019-05-20 |title=Dish to Acquire EchoStar's Broadcast Satellite Business |url=https://www.eeworldonline.com/dish-to-acquire-echostars-broadcast-satellite-business/ |access-date=2025-05-08 |website=Electrical Engineering News and Products |language=en-US}}
On August 8, 2023, The Hollywood Reporter reported that Ergen was proposing a remerger between Dish and EchoStar.{{Cite magazine |last1=Wprin |first1=Alex |last2=Szalai |first2=George |title=Charlie Ergen Wants to Reunite His Telecom Empire Via All-Stock Merger of Dish Network and EchoStar |url=https://www.hollywoodreporter.com/business/business-news/charlie-ergen-dish-network-echostar-merger-1235530324/ |url-status=live |magazine=The Hollywood Reporter |archive-url=https://web.archive.org/web/20230817182528/https://www.hollywoodreporter.com/business/business-news/charlie-ergen-dish-network-echostar-merger-1235530324/ |archive-date=August 17, 2023 }} Later that day, the acquisition was formally announced by both companies.{{Cite press release |date=August 8, 2023 |title=DISH Network Corporation and EchoStar Corporation to Combine |url=https://about.dish.com/2023-08-08-DISH-Network-Corporation-and-EchoStar-Corporation-to-Combine |url-status=live |archive-url=https://web.archive.org/web/20240102005838/https://about.dish.com/2023-08-08-DISH-Network-Corporation-and-EchoStar-Corporation-to-Combine |archive-date=January 2, 2024 |publisher=Dish Network }} On January 2, 2024, it was announced that the transaction had been completed on December 31, 2023.{{Cite web |last=Davis |first=Wes |date=2024-01-02 |title=Dish Network rejoins EchoStar as it tries to compete in 5G |url=https://www.theverge.com/2024/1/2/24022413/dish-network-echostar-acquisition-5g-boost-mobile-wireless |access-date=2024-02-22 |website=The Verge |language=en}}{{Cite web |last=Alleven |first=Monica |date=2 January 2024 |title=Dish-EchoStar merger closes |url=https://www.fiercewireless.com/wireless/dish-echostar-merger-closes |access-date=23 February 2024 |website=Fierce Wireless}}
In May 2024, EchoStar announced that it has been awarded a U.S. Navy wireless and telecommunications contract to provide 5G smart devices and services for the Department of Defense and federal agencies.{{Cite web |last=Comment |first=Paul Lipscombe |date=2024-05-20 |title=EchoStar wins US Navy deal as part of Spiral 4 |url=https://www.datacenterdynamics.com/en/news/echostar-wins-27-billion-navy-contract/ |access-date=2025-05-08 |website=www.datacenterdynamics.com |language=en}}
In May 2024, Dish Network and Hughes Network Systems announced a new bundle of Dish satellite TV with Hughesnet satellite internet.{{Cite web |last=CSI |date=2024-05-20 |title=Dish TV and Hughesnet satellite internet bundle |url=https://www.csimagazine.com/csi/DishTV-and-Hughesnet-satellite-internet-bundle.php |access-date=2025-05-08 |website=CSI |language=en}}
On September 30, 2024, EchoStar announced that it would divest its video distribution unit, Dish Network, to DirecTV in a debt exchange transaction that includes a payment of $1 and the assumption of approximately $9.8 billion in debt.{{Cite web |last=Reilly |first=Jordan Valinsky, Ramishah Maruf, Liam |date=September 30, 2024 |title=DirecTV agrees to buy Dish for $1 |url=https://edition.cnn.com/2024/09/30/media/directv-dish-network-merger/ |website=CNN}} The deal also included $2.5 billion of financing from TPG Angelo Gordon and other co-investors to allow EchoStar to refinance the company's November 2024 debt maturity.{{Cite news |date=October 1, 2024 |title=DirecTV clinches long-elusive deal to combine with Dish |url=https://www.reuters.com/markets/deals/directv-clinches-long-elusive-deal-combine-with-dish-2024-09-30/ |work=reuters.com}} The deal would've allowed EchoStar to reduce its debt and refocus its resources toward its wireless Boost Mobile and satellite connectivity businesses. The deal was expected to close in the fourth quarter of 2025, contingent on regulatory approval and bondholders writing off nearly $1.6 billion in Dish-related debt.{{Cite web |last1=Chapman |first1=Michelle |last2=Grantham-Philips |first2=Wyatte |date=September 30, 2024 |title=Satellite service DirecTV buys rival Dish as it fights the onslaught of streaming services |url=https://abcnews.go.com/US/wireStory/att-exits-showbiz-sells-remaining-stake-directv-private-114343562 |access-date=2024-09-30 |website=ABC News |language=en}} In November, DirecTV called off the deal due to opposition from EchoStar bondholders.{{Cite magazine |last1=Szalai |first1=Georg |last2=Werpin |first2=Alex |date=November 21, 2024 |title=DirecTV Abandons Deal to Acquire Dish Amid Bondholder Opposition |url=https://www.hollywoodreporter.com/business/business-news/directv-echostar-deal-abandoned-dish-sling-tv-bondholder-opposition-1236066400/ |url-status=live |archive-url=https://web.archive.org/web/20241122043619/https://www.hollywoodreporter.com/business/business-news/directv-echostar-deal-abandoned-dish-sling-tv-bondholder-opposition-1236066400/ |archive-date=November 22, 2024 |access-date=November 21, 2024 |magazine=The Hollywood Reporter}}
Satellite fleet
;Orbital locations may change
Since EchoStar frequently moves satellites among its many orbiting slots this list is not necessarily up-to-date.
class="wikitable sortable"
|+ EchoStar satellites | |||||
Satellite || data-sort-type=number | Location || Launch date || Launcher || Satellite bus || Status | |||||
---|---|---|---|---|---|
EchoStar I | December 28, 1995 | Long March 2E/EPKM | {{Partial|Decommissioned}} | ||
EchoStar II | September 11, 1996 | Ariane 42P H10-3 | {{Partial|Decommissioned}} | ||
EchoStar III (DBSC 1) | October 05, 1997 | Atlas IIAS | {{Partial|Decommissioned}} | ||
EchoStar IV | May 07, 1998 | Proton-K/DM-03 | {{Partial|Decommissioned}} | ||
EchoStar V | September 23, 1999 | Atlas IIAS | {{Partial|Decommissioned}} | ||
EchoStar VI | July 14, 2000 | Atlas IIAS | {{Partial|Decommissioned}} | ||
EchoStar VII | February 21, 2002 | Atlas IIIB-DEC | {{Partial|Decommissioned}} | ||
EchoStar VIII | August 22, 2002 | Proton-K/DM-03 | {{Partial|Decommissioned}} | ||
EchoStar IX (Galaxy 23) | 121° W | August 8, 2003 | Zenit-3SL | FS-1300 | {{yes|In Service}} |
EchoStar X | 110° W | February 15, 2006 | Zenit-3SL | A2100AXS | {{yes|In Service}} |
EchoStar XI | July 16, 2008 | Zenit-3SL | {{yes|In Service}} | ||
EchoStar XII (Rainbow 1) | July 17, 2003 | Atlas V521 | {{yes|In Service}} | ||
EchoStar XIII (CMBstar 1) | - | Proton-M/Briz-M | {{No|Cancelled}} | ||
EchoStar XIV | March 20, 2010 | Proton-M/Briz-M | {{yes|In Service}} | ||
EchoStar XV | 61.5° W | July 10, 2010 | Proton-M/Briz-M | LS-1300 | {{yes|In Service}} |
EchoStar XVI | 61.5° W | November 20, 2012 | Proton-M/Briz-M | LS-1300 | {{yes|In Service}} |
EchoStar XVII (Jupiter 1) | 107.0° W | July 5, 2012 | Ariane 5 | LS-1300 | {{yes|In Service}} |
EchoStar XVIII | June 18, 2016 | Ariane 5ECA | {{yes|In Service}} | ||
EchoStar XIX (Jupiter 2) | 97.1° W | December 18, 2016 | Atlas V431 | SSL 1300 | {{yes|In Service}} |
EchoStar XXIII | 109.9° W | March 16, 2017 | Falcon 9 | SSL 1300 | {{yes|In Service}} |
EchoStar XXIV (Jupiter 3) | 105.2° W | July 29, 2023 | Falcon Heavy | SSL 1300 | {{yes|In Service}} |
EchoStar XXV | TBA | TBA | {{Planned}} | ||
EchoStar 105 (SES-11) | 105.0° W | October 11, 2017 | Falcon 9 | Eurostar E3000 | {{yes|In Service}} |
References
{{Reflist}}
External links
- {{Official website|https://www.echostar.com}}
{{Finance links
| name = EchoStar Corporation
| symbol = SATS
| sec_cik = 1415404
| yahoo = SATS
| google = SATS:NASDAQ
}}
{{Dish Network}}
{{EchoStar satellites}}
{{Satcomm}}
{{S&P 400 companies}}
{{Authority control}}
Category:Communications satellite operators
Category:Telecommunications companies of the United States
Category:Telecommunications companies established in 2008
Category:Companies in the S&P 400
Category:Companies listed on the Nasdaq