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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 25, 2007
ECHOSTAR COMMUNICATIONS CORPORATION
(Exact name of registrant as specified in its charter)
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NEVADA
(State or other jurisdiction of
incorporation)
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0-26176
(Commission File Number)
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88-0336997
(IRS Employer
Identification No.) |
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9601 S. MERIDIAN BLVD.
ENGLEWOOD, COLORADO
(Address of principal executive offices)
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80112
(Zip Code) |
(303) 723-1000
(Registrants telephone number, including area code)
ECHOSTAR DBS CORPORATION
(Exact name of registrant as specified in its charter)
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COLORADO
(State or other jurisdiction of
incorporation)
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333-31929
(Commission File Number)
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84-1328967
(IRS Employer
Identification No.) |
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9601 S. MERIDIAN BLVD.
ENGLEWOOD, COLORADO
(Address of principal executive offices)
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80112
(Zip Code) |
(303) 723-1000
(Registrants telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
filing obligation of the registrant under any of the following provisions:
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 8.01 Other Events
Attached as an exhibit hereto is a press release dated September 25, 2007, announcing that
EchoStar Communications Corporation is considering a spin-off of its
technology and infrastructure
business from its DISH Network U.S. consumer business.
Item 9.01 Financial Statements and Exhibits
(c) Exhibits:
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99.1
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Press Release EchoStar Considering
Spin-off of Technology and Infrastructure Assets
From DISH Network U.S. Consumer Business |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused
this report to be signed on its behalf by the undersigned hereunto duly authorized.
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ECHOSTAR COMMUNICATIONS CORPORATION
ECHOSTAR DBS CORPORATION
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Date: September 25, 2007 |
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/s/ R. Stanton Dodge
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R. Stanton Dodge |
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Executive Vice President, General Counsel and Secretary |
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EXHIBIT INDEX
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Exhibit No. |
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Description |
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99.1
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Press Release EchoStar Considering
Spin-off of Technology and Infrastructure Assets
From DISH Network U.S. Consumer Business |
exv99w1
EXHIBIT 99.1
EchoStar Considering Spin-off of Technology and Infrastructure Assets From DISH Network U.S. Consumer Business
ENGLEWOOD, Colo., Sep 25, 2007 (PrimeNewswire via COMTEX News Network) EchoStar Communications
Corporation (Nasdaq:DISH) today announced that its Board of Directors has directed Management to
pursue a possible separation of its businesses into two distinct publicly traded companies.
EchoStar recently submitted a request to the Internal Revenue Service for a ruling as to the
tax-free nature of the transaction.
Under the proposed plan, EchoStars U.S. consumer pay-TV business would continue to operate as the
DISH Network(r). Most of the companys other technology and infrastructure assets would be spun-off
in a transaction intended to be tax-free to EchoStar and its shareholders. Upon completion of the
spin-off transaction, the shareholders of EchoStar would have separate pro rata ownership interests
in each company.
We believe separation of our consumer-based and wholesale businesses could unlock additional
value. Each company would be able to separately pursue the strategies that best suit its respective
long-term interests. The spin-off transaction would also allow employee incentives to be tied to
their respective companys performance, and improve opportunities to effectively develop and
finance expansion plans, said Charlie Ergen, Chairman and Chief Executive Officer of EchoStar.
The transaction would be transparent to DISH Networks over 13.585 million U.S. DBS customers.
Installation, customer service, billing and other consumer services would continue to be operated
by DISH Network, together with most satellites and spectrum used to support that subscriber base.
Mr. Ergen would continue to serve as Chairman and CEO of DISH Network, and would fill the same
roles with the spun-off company.
The spin-off assets would include, among other things, EchoStars award-winning set top box design
and manufacturing business, its international operations, and assets used to provide fixed
satellite services to third parties, together with satellites, uplink centers and spectrum licenses
not considered core to DISH Networks subscriber business. Already the worlds leading developer of
digital video recorders, the set-top box business shipped over nine million units in 2006 to DISH
Network and international customers. The recently announced acquisition of Sling Media further
illustrates EchoStars commitment to delivering best-in-class consumer technology products enabling
customers to enjoy their content anywhere, any time.
The spin-off is subject to certain conditions, including, among others, final approval by
EchoStars board of directors of the transaction, effectiveness of a securities registration
statement, confirmation that the spin-off will qualify as a tax-free transaction for EchoStar and
its shareholders and receipt of regulatory and other necessary approvals. Final terms and timing of
the transaction have not yet been determined. EchoStar is preparing a registration statement for
filing with the Securities and Exchange Commission in connection with the spin-off. The
registration statement will include important information about the Company, the proposed spin-off
and related matters. Shareholders are urged to read the registration statement if and when it
becomes available.
About EchoStar
EchoStar Communications Corporation (Nasdaq:DISH) has been a leader for more than 26 years in
satellite TV equipment sales and support worldwide. The Companys DISH Network(tm) is the
fastest-growing pay-TV provider in the country since 2000 and currently serves more than 13.585
million satellite TV customers. DISH Network offers a premier line of industry-leading Digital
Video Recorders (DVRs) and hundreds of video and audio channels as well as the most national HD and
International channels in the U.S., Interactive TV, Latino and sports programming. DISH Network
also provides a variety of package and price options including the lowest all-digital price in
America and the DishDVR
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Advantage Package. EchoStar is included in the Nasdaq-100 Index (NDX) and is a Fortune 300 company.
Visit www.echostar.com or call 1-800-333-DISH (3474) for more information.
The EchoStar logo is available at http://www.primenewswire.com/newsroom/prs/?pkgid=3707
Forward-Looking Statements
This press release contains forward-looking statements as that term is defined in the Private
Securities Litigation Reform Act of 1995. The statements relate to, among other things, the
contemplated spin-off by EchoStar of a separate company comprised of certain of EchoStars
technology, infrastructure and other assets. Whenever you read a statement that is not simply a
statement of historical fact (such as when we describe what we believe, intend, plan,
estimate, expect, may, will, would, could, anticipate, or will occur and other
similar statements), you must remember that our expectations may not be correct, even though we
believe they are reasonable. We do not guarantee that any future transactions or events described
herein will happen as described or that they will happen at all. You should read this press release
completely and with the understanding that actual future results may be materially different from
what we expect. This cautionary statement applies to all forward-looking statements included in
this release. Whether actual events or results will conform with our expectations and predictions
is subject to a number of risks and uncertainties, many of which are beyond the control of
EchoStar. The risks and uncertainties include, but are not limited to, the following: (i) final
approval by EchoStars board of directors of the transaction, (ii) effectiveness of a registration
statement in connection with the spin-off, (iii) receipt of an opinion from counsel to the effect
that the spin-off will qualify as a tax-free transaction for EchoStar and its stockholders, (iv)
receipt of other necessary regulatory approvals may not be obtained on the terms expected or on the
anticipated schedule, (v) no unanticipated developments that delay or negatively impact the
contemplated spin-off, and (vi) other risks described from time to time in periodic reports filed
by EchoStar with the Securities and Exchange Commission. All cautionary statements made herein
should be read as being applicable to all forward-looking statements wherever they may appear. In
this connection, investors should consider the risks described herein and should not place undue
reliance on any forward-looking statements. EchoStar expressly disclaims any obligation or
undertaking to update these statements to reflect the impact of circumstances or events that arise
after the date on which they were made. Investors should consult EchoStars reports filed with the
SEC for additional information.
This news release was distributed by PrimeNewswire, www.primenewswire.com
SOURCE: EchoStar
EchoStar Communications Corporation
Investor Relations:
Jason Kiser
(303) 723-2210
jason.kiser@echostar.com
Press Contact:
Kathie Gonzalez
(720) 514-5351
press@echostar.com
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