EchoStar moves DISH spectrum and $4.7 billion receivable into new subsidiaries
EchoStar announced it completed a series of transactions after its merger with DISH Network. DISH Network transferred unencumbered wireless spectrum licenses to a new EchoStar subsidiary, and a $4.7 billion Tranche A receivable is now owed to an EchoStar subsidiary. The filing says these steps are meant to give the company more strategic and financing flexibility, and EchoStar has hired advisers to evaluate strategic alternatives.
- DISH Network transferred spectrum licenses including AWS-4, H-Block, CBRS and C-Band to EchoStar Wireless Holding L.L.C.
- Tranche A receivable, valued at approximately $4.7 billion, was assigned to EchoStar Intercompany Receivable Company L.L.C.
- DBS Subscriber Subsidiary holds approximately 3.0 million DISH TV subscribers.
- On January 8, 2024, Timothy Messner resigned from the DISH DBS board and Tom Ortolf was appointed to it.