EchoStar Corporation ("EchoStar"), a global, fully integrated communication and content delivery leader and provider of technology, spectrum, engineering, manufacturing, networking services, television entertainment and connectivity, today announced a suite of transformative transactions, including:

 • an agreement to sell DISH DBS Corporation ("DBS") (its Pay-TV business, which includes Sling TV) to DIRECTV creating a combined company that will be better positioned to invest in its services and negotiate with programmers for the content that consumers demand, delivering more choices and better value to its consumers;

•           the receipt of approximately $2.5 billion in new financing from TPG Angelo Gordon and certain co-investors at DBS to address its November 2024 debt maturity and provide interim liquidity;

•           various exchange offers to DBS bondholders providing the opportunity for its stakeholders to support the combination of the DBS and DIRECTV business and roll into the attractive combined credit;

• a comprehensive financing solution and balance sheet optimization transaction at EchoStar through:

• a Transaction Support Agreement with certain holders (the "DISH Supporting Investors") of its subsidiary DISH Network Corporation's 0% convertible notes due 2025 (the "2025 Notes") and 3.375% convertible notes due 2026 (the "2026 Notes" and, together with the 2025 Notes, the "DISH Convertible Notes") providing for the exchange of DISH Convertible Notes for new EchoStar secured notes maturing in 2030; and

• a Commitment Agreement with certain of the DISH Supporting Investors to invest $5.1 billion of new capital in EchoStar through the purchase of EchoStar secured notes maturing in 2029.

Today's announcements accelerate EchoStar's mission of deploying a nationwide facilities-based wireless service to compete with dominant incumbent wireless carriers and its ability to further leverage its satellite assets and experience, including developing innovative direct-to-device (D2D) solutions. U.S. consumers will benefit from EchoStar's ability to focus more clearly on enhancing and further deploying its nationwide 5G Open RAN wireless network, which will provide more choices and better service to consumers under the Boost Mobile brand, while driving innovation at a faster pace.

Read the full press release here.

EchoStar