EchoStar Communications Corporation Announces Distribution Date for the Separation of Its Businesses: Financial News - Yahoo! Finance
ENGLEWOOD, Colo., Dec. 28, 2007 (PRIME NEWSWIRE) -- EchoStar Communications Corporation (NasdaqGS
ISH - News) 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 (U.S. Securities and Exchange Commission (Home Page)) under the company name ``EchoStar Holding Corporation.'' This information statement will also be available through the Investor Relations link at DISH Network.
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.
ENGLEWOOD, Colo., Dec. 28, 2007 (PRIME NEWSWIRE) -- EchoStar Communications Corporation (NasdaqGS
ISH - News) 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 (U.S. Securities and Exchange Commission (Home Page)) under the company name ``EchoStar Holding Corporation.'' This information statement will also be available through the Investor Relations link at DISH Network.
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.
