VZ - Dish Network Merges with EchoStar in Strategic Shift to Wireless Services | Benzinga
Dish Network Corp and EchoStar Corp (NASDAQ: SATS), led by Charlie Ergen, have finalized their merger, effectively reuniting Ergen's satellite businesses.
To finalize the acquisition, a subsidiary wholly owned by EchoStar merged with Dish Network, with Dish continuing as a subsidiary under EchoStar's complete ownership.
Following the merger, as previously declared, every share of Dish Network's Class A and Class C common stock was exchanged for 0.350877 shares of EchoStar's Class A common stock.
Similarly, each share of Dish Network's Class B common stock converted into 0.350877 shares of EchoStar's Class B common stock.
The union, completed on December 31, is a strategic move for Dish to shift focus from its declining pay-TV business to wireless services, thereby competing with major players ...