DISH To Acquire Certain EchoStar Assets; To Gain Control Over DBS, Sling TV

(RTTNews) - DISH Network Corp. (DISH) and EchoStar Corp. announced they have executed an agreement that will transfer certain EchoStar assets and operations, including EchoStar Technologies hardware and software development group, national and regional uplink business, managed fiber backhaul network serving all U.S. DMAs and OTT development group to DISH in exchange for DISH's 80 percent economic interest in Hughes Retail Group. The deal also transfers to DISH the 10 percent stake in Sling TV held by EchoStar, wireless spectrum licenses covering four markets in the 28 GHz band and certain real estate properties.

"With this transaction we will vertically integrate all the elements that define our customer experience - one team will deliver the full DISH and Sling TV experience end to end," said DISH President Erik Carlson.