ECHOSTAR CORPORATION (NASDAQ:SATS) Files An 8-K Other Events

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ECHOSTAR CORPORATION (NASDAQ:SATS) Files An 8-K Other Events

Item 8.01. Other Events.

On February 28, 2017, EchoStar Corporation (EchoStar) and certain
of its subsidiaries consummated a share exchange (the Share
Exchange) with DISH Network Corporation and certain of its
subsidiaries, to which EchoStar and its subsidiary, Hughes
Satellite Systems Corporation (HSS), received all of the shares
of the Hughes Retail Preferred Tracking Stock issued by EchoStar
and HSS in exchange for 50% of the equity interests of certain
EchoStar subsidiaries that held substantially all of its EchoStar
Technologies businesses and certain other assets. Following the
consummation of the Share Exchange, as of March 2017, EchoStar
discontinued operations of its EchoStar Technologies business
segment. Effective in March 2017, EchoStar also changed its
overhead allocation methodology to reflect how the chief
operating decision maker evaluates its business segments.
Historically, the costs of all corporate functions were included
on an allocated basis in each of the business segments earnings
before interest, taxes, depreciation and amortization. Under the
revised allocation methodology, these costs are now reported and
analyzed as part of Corporate and Other (previously All Other and
Eliminations). EchoStar is filing this Current Report on Form 8-K
to provide certain preliminary unaudited segment financial
information for the three months ended June 30, 2016, September
30, 2016 and December 31, 2016 and for the year ended December
31, 2016. The actual results reported in EchoStar’s future
filings may differ from these preliminary results due to the
completion of EchoStar’s quarterly financial review procedures.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit No.
Description
Exhibit 99.1
Preliminary Segment Financial Information for the Three
Months Ended June 30, 2016, September 30, 2016 and
December 31, 2016 and for the Year Ended December 31,
2016 (unaudited).


About ECHOSTAR CORPORATION (NASDAQ:SATS)

EchoStar Corporation is a holding company. The Company operates through three segments: Hughes, EchoStar Technologies (ETC) and EchoStar Satellite Services (ESS). Its operations also include real estate and other activities. The Company’s Hughes segment provides broadband satellite technologies and services for the home and office, delivering network technologies, managed services, and solutions for consumers, enterprises and governments. The Company’s EchoStar Technologies segment provides end-to-end video and broadcast technology products and services to businesses and directly to consumers. It provides satellite services on a full-time and occasional-use basis to DISH Network, Dish Mexico, the United States Government service providers, Internet service providers, broadcast news organizations, programmers and private enterprise customers.