EchoStar and AsiaSat Form DTH Joint Venture
ENGLEWOOD, CO and HONG KONG, Jun 01, 2009 (MARKETWIRE via COMTEX News Network) -- EchoStar Corporation (NASDAQ: SATS), a leading provider of end-to-end pay TV delivery systems and a designer and manufacturer of equipment for satellite, IPTV, cable, terrestrial and consumer electronics markets, and Asia Satellite Telecommunications Company Limited (AsiaSat), a wholly owned subsidiary of Asia Satellite Telecommunications Holdings Limited (HKSE: 1135) and Asia's leading satellite operator, announced today the formation of a joint venture for the delivery of a direct-to-home (DTH) satellite television service to Taiwan and other targeted regions in Asia.
The satellite TV service will broadcast from AsiaSat 4, providing a wide variety of audio and video channels in an all digital format distributed directly to consumer homes via a small satellite antenna and a digital set-top box.
EchoStar, bringing more than 25 years of experience in satellite television and consumer pay television operations, is leveraging its DTH operations expertise and award-winning set-top box technology to deliver superior television to Asian viewers.
AsiaSat, Asia's premier satellite operator with 20 years of marketing and operational excellence, is the owner and operator of the AsiaSat 4 satellite with a Broadcast Satellite Service (BSS) payload that enables viewers to receive the DTH offerings using satellite antennas as small as 30 cm in diameter.
"This joint venture between AsiaSat and EchoStar makes it possible to enter the growing Asian market that seeks a popular lineup of all digital television channels at an attractive price," said Steve Schaver, President of EchoStar International Corporation, a wholly owned subsidiary of EchoStar Corp. "The opportunity to partner with AsiaSat for delivery of video services creates an exciting opportunity for EchoStar as we enter the DTH market in Asia."
"Our alliance with EchoStar for the launch of a DTH satellite TV service creates an innovative and high quality product for an increasing number of technology-aware consumers in Asia demanding a greater choice for pay television service," said Peter Jackson, Chief Executive Officer of AsiaSat.
Under the joint venture agreement, EchoStar, a leading provider of DTH services and satellite TV equipment in the United States, Canada, Mexico and Europe, including to the world's second largest DTH operator, is contributing its operational expertise and digital satellite TV equipment to the joint venture. AsiaSat, an award-winning market leader in Asian satellite services, is providing satellite capacity for the DTH satellite TV platform.
The service is expected to be available to consumers in the second half of 2009. Announcements on programming packages, equipment availability and targeted territories will be made in the coming months.
About AsiaSat
AsiaSat, the leading regional satellite operator in Asia, serves over two-thirds of the world's population with its three satellites, AsiaSat 2 at 100.5 degrees E, AsiaSat 3S at 105.5 degrees E and AsiaSat 4 at 122 degrees E. The AsiaSat satellite fleet provides services to both the broadcast and telecommunications industries. Some 300 television channels are now delivered by the company's satellites, reaching over 96 million households, with more than 360 million viewers across the Asia Pacific region. Many telecommunications customers use AsiaSat for services such as public telephone networks, private VSAT networks and broadband multimedia services. It is a wholly-owned subsidiary of Asia Satellite Telecommunications Holdings Limited, a company listed on The Stock Exchange of Hong Kong Limited (HKSE: 1135). AsiaSat was voted the "Best Asian Satellite Carrier" by Telecom Asia magazine in March 2009. Visit www.asiasat.com
About EchoStar Corporation
EchoStar Corporation (NASDAQ: SATS) provides equipment sales, digital broadcast operations, and satellite services worldwide. EchoStar has 25 years of experience designing and distributing advanced award-winning set-top boxes and related products for pay television providers. The company includes a network of 10 digital broadcast centers and leased fiber optic capacity with points of presence in approximately 160 U.S. cities. EchoStar also delivers satellite services from eight satellites and related FCC licenses. Visit www.echostar.com.
Statements in this press release are forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. The Reform Act provides a "safe harbour" for certain forward-looking statements so long as this information is identified as forward-looking and is accompanied by meaningful cautionary statements identifying important factors that could cause actual results to differ materially from those projected in the information. When used in this press release, the words "estimate," "plan," "project," "anticipate," "expect," "intend," "outlook," and other similar expressions are intended to identify forward-looking statements and information. Actual results may differ materially from anticipated results as a result of certain risks and uncertainties which are more specifically set forth in AsiaSat's Annual Report on Form 20-F for the year ended 31 December 2007 on file with the U.S. Securities and Exchange Commission. These risks and uncertainties include but are not limited to (1) risks associated with technology, including delayed launches, launch failures and in-orbit failures, (2) regulatory risks, and (3) litigation and market risks. The foregoing list of important factors is not exclusive. Furthermore, AsiaSat operates in an industry sector where securities values may be volatile and may be influenced by economic and other factors beyond AsiaSat's control.
Except for historical information contained herein, the matters set forth in this press release are forward-looking statements. The forward-looking statements set forth above involve a number of risks and uncertainties that could cause actual results to differ materially from any such statement, including the risks and uncertainties discussed in EchoStar Corporation's Disclosure Regarding Forward-Looking Statements included in its recent filings with the Securities and Exchange Commission, including its annual report on Form 10-K and its most recent quarterly report on Form 10-Q. The forward-looking statements speak only as of the date made, and EchoStar Corporation expressly disclaims any obligation to update these forward-looking statements.
Press Contacts: EchoStar Marc Lumpkin Tel: 1-303-706-5236 Email: Email Contact Asia Satellite Telecommunications Company Limited Sabrina Cubbon General Manager, Marketing Tel: (852) 2500 0899 (office) Fax: (852) 9097 1210 (Mobile) Email: Email Contact Winnie Pang Manager, Corporate Affairs Tel: (852) 2500 0880 Email: Email Contact
SOURCE: EchoStar Corporation
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