EchoStar Communications Corporation (Nasdaq:DISH) today announced that the distribution of shares of common stock of EchoStar Holding Corporation will be effective at 12:01 a.m. MST (2:01 a.m. EST) on January 1, 2008. EchoStar Communications Corporation will retain its pay-TV business, DISH Network and EchoStar Holding Corporation will hold the technology and certain infrastructure assets of EchoStar Communications Corporation, including its set-top box business and certain satellite assets. The record date for the distribution was the close of business (5:00 p.m. EST) on December 27, 2007. EchoStar Communications Corporation plans to change its name to "DISH Network Corporation" following the completion of the separation.
EchoStar Communications Corporation plans to commence mailing of the final information statement, which outlines the operations of EchoStar Holding Corporation and provides additional details regarding the separation, on or about December 31, 2007. A copy of the final information statement will be available on the SEC's Web site (www.sec.gov) under the company name "EchoStar Holding Corporation." This information statement will also be available through the Investor Relations link at www.dishnetwork.com/aboutus.
Each shareholder of EchoStar Communications Corporation will receive for each share of common stock held as of the record date, 0.20 of a share of the same class of common stock of EchoStar Holding Corporation. If a shareholder of EchoStar Communications Corporation sells shares of EchoStar Communications Corporation common stock between the record date for the distribution and the distribution date, the buyer of those shares and not the seller will become entitled to receive the shares of EchoStar Holding Corporation common stock distributed in respect of those shares. Shares of EchoStar Holding Corporation Class A common stock have been approved for listing on the Nasdaq Global Select Market under the symbol "SATS." Shares of Class A common stock of EchoStar Communications Corporation will continue to trade on the Nasdaq Global Select Market under the symbol "DISH." Regular-way trading in shares of EchoStar Holding Corporation Class A common stock is expected to commence on January 2, 2008.
About EchoStar Communications Corporation
EchoStar Communications Corporation (Nasdaq:DISH) has been a leader for more than 27 years in satellite TV equipment sales and support worldwide. The Company's DISH Network(r) is the fastest-growing pay-TV provider in the country since 2000, providing more than 13.695 million satellite TV customers with industry-leading customer satisfaction which has surpassed major cable companies for seven years running. DISH Network customers also enjoy access to a premier line of award-winning Digital Video Recorders (DVRs), hundreds of video and audio channels, the most International channels in the U.S., industry-leading Interactive TV applications, Latino programming, and the best sports and movies in HD. DISH Network offers a variety of package and price options including the lowest all-digital price in America, the DishDVR Advantage Package, high-speed Internet service, a free upgrade to the best HD DVR in the industry, and six months free of DishHD. EchoStar is included in the Nasdaq-100 Index (NDX) and is a Fortune 300 company. Visit www.dishnetwork.com/aboutus or call 1-800-333-DISH (3474) for more information.
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