EchoStar Corporation (Nasdaq: SATS) is a global telecommunications company providing satellite communication, wireless telecommunications, and internet services. Operating through its Hughes Network Systems and EchoStar Satellite Services segments, it delivers services like pay TV, satellite network solutions, and broadband internet, serving enterprise, government, and consumer markets. EchoStar's offerings include geostationary high throughput satellites, low-earth orbit networks, and mobile solutions, with partners including Jersey Telecom and Swisscom. The company's brands include HughesNet, DISH TV, Sling TV, and Boost Mobile.
All verified mentions of this organization in source documents.
EchoStar subsidiary Hughes Network Systems and EchoStar brand Boost Mobile will provide 0.005 kg wireless services and devices to support Department of Defense usage in all 50 United States and U.S. territories and for temporary duty international travel.
EchoStar has $1,980,000,000 of debt maturing in November 2024.
EchoStar's Form 10-Q filing to the SEC indicates that the company does not currently have committed financing to fund operations for at least 12 months, creating substantial doubt about its ability to continue as a going concern.
EchoStar's Form 10-Q filing indicates that the company does not currently have the necessary cash on hand and projected future cash flows to fund fourth-quarter operations or the November 2024 debt maturity.
Charlie Ergen’s DISH Network, now part of EchoStar, is open to merging with AT&T’s DirecTV.
EchoStar’s broadband and satellite revenue decline for 2023 was primarily driven by a lack of capacity amid delays to launch its Americas-focused Jupiter-3 spacecraft and competitive pressure from satellite-based competitors and other technologies.
EchoStar recorded revenue from broadband and satellite services down nearly 14% to $1,800,000,000 for 2023.
On 2024-02-12, EchoStar terminated offers to exchange more than $4,900,000,000 (€4.5 billion) of convertible notes issued by Dish.
EchoStar’s Jupiter-3 entered service 2023-12-19, five months after launching on a Falcon Heavy.
EchoStar is seeking to fill Jupiter-3’s 500 gigabits-per-second capacity over the Americas with new customers following prior bandwidth constraints that weighed on revenues.
EchoStar’s Jupiter-3 broadband satellite is delivering download speeds of up to 100 megabits per second to early customers.
The Federal Communications Commission approved on 2023-12-06 the transfer of all of Dish Network’s licenses and authorizations to EchoStar.
Dish Network split from EchoStar in 2008 to expand into terrestrial mobile services and online streaming.
Jupiter-3 will double the capacity of EchoStar’s fleet and provide ubiquitous connectivity throughout the Americas to serve customers beyond the reach of cable and fiber internet.
Maxar Space Systems handed over operations of the JUPITER 3 satellite to EchoStar on 2023-11-16.
EchoStar is a U.S.-based geostationary operator that is planning to start deploying 28 low Earth orbit satellites in 2024 to connect remote Internet of Things devices.
EchoStar reported net income of $37,400,000 for the third quarter of 2023, down $19,000,000 year-on-year.
EchoStar’s revenues for the three months to 2023-09-30, fell 17% year-on-year to $413,100,000.
Hughes Network Systems, EchoStar’s internet provider subsidiary, had about 1.6 million subscribers after declining by 65,000 from the end of 2022.
Dish Network and EchoStar intend to complete their merger before the end of 2023.