DOCSLIB.ORG

Echostar Annual Report 2021

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Echostar Annual Report 2021 EchoStar Annual Report 2021 Form 10-K (NASDAQ:SATS) Published: February 23rd, 2021 PDF generated by stocklight.com UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2020. OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO . Commission File Number: 001-33807 EchoStar Corporation (Exact name of registrant as specified in its charter) Nevada 26-1232727 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 100 Inverness Terrace East,Englewood, Colorado 80112-5308 (Address of principal executive offices) (Zip Code) (303) 706-4000 Not Applicable (Registrant’s telephone number, including area code) (Former name, former address and former fiscal year, if changed since last report) Securities registered pursuant to Section 12(b) of the Act: Class A common stock $0.001 par value The NASDAQ Stock Market LLC (Title of each class) (Name of each exchange on which registered) SATS (Ticker symbol) Securities registered pursuant to Section 12(g) of the Act: None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☒ No ☐ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☒ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act. (Check one): Large accelerated filer ☒ Accelerated filer ☐ Emerging growth company ☐ Non-accelerated filer ☐ Smaller reporting company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. Yes ☒ No ☐ As of June 30, 2020, the aggregate market value of Class A common stock held by non-affiliates of the registrant was $1.3 billion based upon the closing price of the Class A common stock as reported on the NASDAQ Global Select Market as of the close of business on that date. As of February 11, 2021, the registrant’s outstanding common stock consisted of 46,011,533 shares of Class A common stock and 47,687,039 shares of Class B common stock, each $0.001 par value. DOCUMENTS INCORPORATED BY REFERENCE Portions of the registrant’s definitive Proxy Statement to be filed in connection with its 2021 Annual Meeting of Shareholders are incorporated by reference in Part III. TABLE OF CONTENTS Disclosure Regarding Forward Looking Statements i PART I Item 1. Business 1 Item 1A. Risk Factors 14 Item 1B. Unresolved Staff Comments 24 Item 2. Properties 25 Item 3. Legal Proceedings 25 Item 4. Mine Safety Disclosures 25 PART II Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 26 Item 6. Selected Financial Data 27 Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations 28 Item 7A. Quantitative and Qualitative Disclosures about Market Risk 54 Item 8. Financial Statements and Supplementary Data 55 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 55 Item 9A. Controls and Procedures 55 Item 9B. Other Information 56 PART III Item 10. Directors, Executive Officers and Corporate Governance 57 Item 11. Executive Compensation 57 Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 57 Item 13. Certain Relationships and Related Transactions, and Director Independence 57 Item 14. Principal Accounting Fees and Services 57 PART IV Item 15. Exhibits, Financial Statement Schedules 58 Item 16. Form 10-K Summary 64 Signatures 65 Index to Consolidated Financial Statements F-1 DISCLOSURE REGARDING FORWARD LOOKING STATEMENTS This Annual Report on Form 10-K (“Form 10-K”) contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including but not limited to statements about our estimates, expectations, plans, objectives, strategies, financial condition, expected impact of regulatory developments and legal proceedings, opportunities in our industries and businesses and other trends and projections for the next fiscal quarter and beyond. All statements, other than statements of historical facts, may be forward-looking statements. Forward-looking statements may also be identified by words such as “anticipate,” “intend,” “plan,” “goal,” “seek,” “believe,” “estimate,” “expect,” “predict,” “continue,” “future,” “will,” “would,” “could,” “can,” “may” and similar terms. These forward-looking statements are based on information available to us as of the date of this Form 10-K and represent management’s current views and assumptions. Forward-looking statements are not guarantees of future performance, events or results and involve potential known and unknown risks, uncertainties and other factors, many of which may be beyond our control and may pose a risk to our operating and financial condition. Accordingly, actual performance, events or results could differ materially from those expressed or implied in the forward-looking statements due to a number of factors including, but not limited to: • significant risks related to our ability to operate and control our satellites, operational and environmental risks related to our owned and leased satellites, and risks related to our satellites under construction; • our ability, and the ability of third parties with whom we engage in order to operate our business, to operate as a result of the COVID-19 pandemic; • our ability to implement and/or realize benefits of our investments and other strategic initiatives; • legal proceedings relating to the BSS Transaction or other matters that could result in substantial costs and material adverse effects to our business; • risks related to our foreign operations and other uncertainties associated with doing business internationally; • risks related to our dependency upon third-party providers; and • risks related to our human capital resources. Other factors that could cause or contribute to such differences include, but are not limited to, those discussed in Part I, Item 1A. Risk Factors and Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations of this Form 10-K and those discussed in other documents we file with the Securities and Exchange Commission (“SEC”). All cautionary statements made herein should be read as being applicable to all forward-looking statements wherever they appear. Investors should consider the risks and uncertainties described herein and should not place undue reliance on any forward-looking statements. We do not undertake, and specifically disclaim, any obligation to publicly release the results of any revisions that may be made to any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Although we believe that the expectations reflected in any forward-looking statements are reasonable, we cannot guarantee future results, events, levels of activity, performance or achievements. We do not assume responsibility for the accuracy and completeness of any forward-looking statements. We assume no responsibility for updating forward-looking information contained or incorporated by reference herein or in any documents we file with the SEC, except as required by law. Should one or more of the risks or uncertainties described herein or in any documents we file with the SEC occur, or should underlying assumptions prove incorrect, our actual results and plans could differ materially from those expressed in any forward-looking statements. i PART I ITEM 1. BUSINESS OVERVIEW EchoStar Corporation (which, together with its subsidiaries, is referred to as “EchoStar,” the “Company,” “we,” “us” and “our”) is a
Load more

Recommended publications
  • Complaint : U.S. Et Al., V. Echostar Communications Corp. Et Al
    IN THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF COLUMBIA ____________________________________ ) UNITED STATES OF AMERICA ) United States Department of Justice ) Antitrust Division ) 1401 H Street, N.W., Suite 8000 ) Washington, DC 20530, ) ) CASE NUMBER 1:02CV02138 STATE OF MISSOURI ) Missouri Attorney General’s Office ) JUDGE: Ellen Segal Huvelle P.O. Box 899 ) Jefferson City, MO 65102, ) DECK TYPE: Antitrust ) STATE OF ARKANSAS ) DATE STAMP: 10/31/2002 Office of the Attorney General ) Antitrust Division ) 323 Center Street, Suite 200 ) Little Rock, Arkansas 72201, ) ) STATE OF CALIFORNIA ) California Department of Justice ) Ronald Reagan Building ) 300 S. Spring St., Suite 5N ) Los Angeles, CA 90013, ) ) STATE OF CONNECTICUT ) Office of the Attorney General ) 110 Sherman Street ) Hartford, CT 06105, ) ) STATE OF HAWAII ) Department of the Attorney General ) 425 Queen Street ) Honolulu, Hawaii 96813, ) ) STATE OF IDAHO ) Office of Attorney General ) P.O. Box 83720 ) Boise, Idaho 83720-0010, ) ) STATE OF ILLINOIS ) Office of the Attorney General ) James R. Thompson Center ) 100 W. Randolph Street, 13th Floor ) Chicago, IL 60601, ) ) STATE OF IOWA ) Department of Justice ) Hoover Office Building, 2nd Floor ) Des Moines, IA 50319, ) ) COMMONWEALTH OF KENTUCKY ) 1024 Capital Center Drive ) Frankfort, KY 40601, ) ) STATE OF MAINE ) Office of the Attorney General ) 6 State House Station ) Augusta, Maine 04333, ) ) COMMONWEALTH OF ) MASSACHUSETTS ) Office of the Attorney General ) One Ashburton Place, 19th Floor ) Boston, MA 02108, ) ) STATE OF MISSISSIPPI ) P.O. Box 22947 ) Jackson, MI 39225, ) ) STATE OF MONTANA ) P.O. Box 200501 ) Helena, MT 59620-0501, ) ) STATE OF NEVADA ) Office of the Attorney General ) 1000 East William Street ) Suite 200 ) Carson City, Nevada 89701, ) ) STATE OF NEW YORK ) Office of the Attorney General ) 120 Broadway, 26C ) New York, New York 10271, ) ) STATE OF NORTH CAROLINA ) Department of Justice ) P.O.
    [Show full text]
  • Echostar Annual Report Year Ended December 31, 2012 March 20, 2013
    NASDAQ: SATS 100 Inverness Terrace East Englewood, CO 80112 303.706.4000 | echostar.com EchoStar Annual Report Year Ended December 31, 2012 March 20, 2013 Dear EchoStar Corporation Shareholders; 2012 was a very busy year for EchoStar. One of the most exciting accomplishments for 2012 was the addition of two new satellites to our growing fleet through the successful launches of EchoStar XVI and EchoStar XVII, bringing our total number of owned, leased and managed spacecraft to twenty-two. EchoStar operates the world’s fourth largest commercial geostationary satellite fleet and we continue to solidify our position as a premier global leader in satellite communications and operations. EchoStar ended 2012 with revenue of $3.1 billion, a growth of 13% over 2011. EBITDA in 2012 was $794 million, a growth of 64% over 2011. We generated a healthy $508 million of cash from operating activities in 2012 as a result primarily of the strong net income in 2012 and ended the year with a strong balance sheet with $1.5 billion of cash and marketable securities. EchoStar reached two very important long-term North America goals in 2012 with the market implementation of the HughesNet Gen4 service and the roll-out of the Hopper Whole Home DVR solution for DISH. Both solutions are garnering high praise and rapid adoption by consumers, a glowing testament to the capabilities and ingenuity of the EchoStar team. Additional notable accomplishments for 2012 include the very successful introduction of two new Slingbox retail products, several large enterprise contract renewals and new customers for Hughes data network services around the globe, and above-forecast sales of set-top-box products and video services to our established operator customers.
    [Show full text]
  • APSCC Monthly E-Newsletter JANUARY 2017
    APSCC Monthly e-Newsletter JANUARY 2017 The Asia-Pacific Satellite Communications Council (APSCC) e-Newsletter is produced on a monthly basis as part of APSCC’s information services for members and professionals in the satellite industry. Subscribe to the APSCC monthly newsletter and be updated with the latest satellite industry news as well as APSCC activities! To renew your subscription, please visit www.apscc.or.kr/sub4_5.asp. To unsubscribe, send an email to [email protected] with a title “Unsubscribe.” News in this issue has been collected from 1 to 31 December 2016. INSIDE APSCC APSCC Session at PTC'17, What do End Users Actually Want? 16 January 2017, Honolulu, Hawaii, USA, www.ptc.org/ptc17 While new technology is good, as are lower prices, are we actually meeting end user needs in the Pacific? Why/why not? What is being provisioned now and future? What gaps we must fill? Where does the satcom model fall short? The session, “What do End Users Actually Want?” would discuss end user needs across various applications and markets. Pierre-Jean Beylier, CEO, SpeedCast Richard Swardh, SVP, Comtech EF Data Imran Malik, RVP, O3b Networks Jacques-Samuel Prolon, General Manager, Kacific Broadband Satellites Moderated by Chris Baugh, President, NSR APSCC members can enjoy discounted rate when PTC’17 registration. Gregg Daffner Elected as APSCC President Gregg Daffner (CEO, GapSat) was elected and inaugurated as the President of APSCC at the 2016 APSCC General Assembly held on 13 December 2016. As the main representative of APSCC, Gregg will be responsible for setting the policies and goals of APSCC in consultation with the APSCC Board of Directors, Vice Presidents and Executive Director.
    [Show full text]
  • Satellite Industry Association Comments in Docket No
    June 7, 2021 Via E-Mail Attn: Diane Steinour National Telecommunications and Information Administration 1401 Constitution Ave NW Room 4701 Washington, DC 20230 Re: Satellite Industry Association Comments in Docket No. 210503–0097 Dear Ms. Steinour, The Satellite Industry Association (SIA)1 hereby provides its comments in the Telecommunications/ICT Development Activities, Priorities and Policies To Connect the Unconnected Worldwide in Light of the 2021 International Telecommunication Union (ITU) World Telecommunication Development Conference (WTDC–21) proceeding referenced above (hereinafter, RFC).2 SIA is a U.S.- based trade association representing the leading satellite operators, manufacturers, launch providers, and ground equipment suppliers who serve commercial, civil, and military markets. The satellite industry has a long history of supporting ICT development activities and providing connectivity to unserved and underserved communities worldwide, and fully supports the efforts of the Administration, the Department of Commerce (DOC) and the National Telecommunications and Information Administration (NTIA) in this area. 1. ICT Development Priorities a. Over the next five years, what should the U.S. government priorities be for telecommunications/ICT development? b. Are there particular areas of focus for economic development, as well as telecommunications/ICT development that might help the United States align with developing countries’ development interests? c. What are valuable venues, forums, or methods to focus this work? 1 SIA
    [Show full text]
  • Bulletin De Veille
    images/spatial.jpg Semaine 23 10/06/2017 Lancement réussi pour le lanceur GSLV-MKIII (100% indien) qui a été tiré depuis le pas de tir de Sriharijota et qui a placé le satellite GSAT-19 en orbite. http://information.tv5monde.com/en-continu/new-delhi-tire-une-nouvelle-fusee-100-indienne-173485 Le rapprochement entre Intelsat et Oneweb a échoué. http://www.air-cosmos.com/pas-de-mariage-entre-intelsat-et-oneweb-95805 Space X remporte un nouveau contrat et se chargera désormais de la mise en orbite du X37B. http://www.fredzone.org/x-37b-spacex-003 TAS signe un contrat de 130ME avec Inmarsat pour le développement d'Inmarsat GX. http://www.vipress.net/thales-alenia-space-signe-contrat-de-130-me-inmarsat/ La Chine développe des lanceurs réutilisables. http://french.china.org.cn/china/txt/2017-06/08/content_40992470.htm ILS Proton réussit le lancement du satellite EchoStar XXI depuis le cosmodrome de Baïkonour. http://www.ecranmobile.fr/ILS-Proton-reussit-le-lancement-du-satellite-EchoStar-XXI_a64266.html La capsule Dragon recyclée de Space X est bien arrivée à l'ISS. https://www.sciencesetavenir.fr/espace/systeme-solaire/spacex-la-premiere-capsule-dragon-recyclee-est-bien-arrivee-a-l-iss_113590 La NASA met le feu à une capsule Cygnus dans l'espace afin de préparer la sécurisation des futurs voyages sur Mars. http://kulturegeek.fr/news-112566/nasa-met-feu-capsule-cygnus-lespace-securiser-prochains-voyages-vers-mars Space X réutilise une fusée afin d'aller ravitailler l'ISS. http://www.la-croix.com/Sciences-et-ethique/Sciences/SpaceX-reutilise-fusee-aller-vers-station-spatiale-2017-06-05-1200852572 Elon Musk: réutiliser des fusées, cela commence à être normal.
    [Show full text]
  • Echostar Corporation (Exact Name of Registrant As Specified in Its Charter)
    Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) þ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED MARCH 31, 2008. OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO . Commission File Number: 001-33807 EchoStar Corporation (Exact name of registrant as specified in its charter) Nevada 26-1232727 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 90 Inverness Circle E. Englewood, Colorado 80112 (Address of principal executive offices) (Zip code) (303) 706-4000 (Registrant’s telephone number, including area code) Not Applicable (Former name, former address and former fiscal year, if changed since last report) Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes þ No o Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer” and “smaller reporting company” in Rule 12b-2 of the Exchange Act. (Check one): Large accelerated filer o Accelerated filer o Non-accelerated filer þ Smaller reporting company o (Do not check if a smaller reporting company) Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).
    [Show full text]
  • The Annual Compendium of Commercial Space Transportation: 2017
    Federal Aviation Administration The Annual Compendium of Commercial Space Transportation: 2017 January 2017 Annual Compendium of Commercial Space Transportation: 2017 i Contents About the FAA Office of Commercial Space Transportation The Federal Aviation Administration’s Office of Commercial Space Transportation (FAA AST) licenses and regulates U.S. commercial space launch and reentry activity, as well as the operation of non-federal launch and reentry sites, as authorized by Executive Order 12465 and Title 51 United States Code, Subtitle V, Chapter 509 (formerly the Commercial Space Launch Act). FAA AST’s mission is to ensure public health and safety and the safety of property while protecting the national security and foreign policy interests of the United States during commercial launch and reentry operations. In addition, FAA AST is directed to encourage, facilitate, and promote commercial space launches and reentries. Additional information concerning commercial space transportation can be found on FAA AST’s website: http://www.faa.gov/go/ast Cover art: Phil Smith, The Tauri Group (2017) Publication produced for FAA AST by The Tauri Group under contract. NOTICE Use of trade names or names of manufacturers in this document does not constitute an official endorsement of such products or manufacturers, either expressed or implied, by the Federal Aviation Administration. ii Annual Compendium of Commercial Space Transportation: 2017 GENERAL CONTENTS Executive Summary 1 Introduction 5 Launch Vehicles 9 Launch and Reentry Sites 21 Payloads 35 2016 Launch Events 39 2017 Annual Commercial Space Transportation Forecast 45 Space Transportation Law and Policy 83 Appendices 89 Orbital Launch Vehicle Fact Sheets 100 iii Contents DETAILED CONTENTS EXECUTIVE SUMMARY .
    [Show full text]
  • PUBLIC NOTICE FEDERAL COMMUNICATIONS COMMISSION 445 12Th STREET S.W
    PUBLIC NOTICE FEDERAL COMMUNICATIONS COMMISSION 445 12th STREET S.W. WASHINGTON D.C. 20554 News media information 202-418-0500 Fax-On-Demand 202-418-2830; Internet: http://www.fcc.gov (or ftp.fcc.gov) TTY (202) 418-2555 DA No. 07-120 Report No. SAT-00413 Friday January 19, 2007 POLICY BRANCH INFORMATION Actions Taken The Commission, by its International Bureau, took the following actions pursuant to delegated authority. The effective date of these actions is the release date of this Notice, except were an effective date is specified. SAT-LOA-20061222-00157 E S2716 EchoStar Satellite Operating Corporation Launch and Operating Authority Withdrawn Effective Date: 01/05/2007 Nature of Service: Direct to Home Fixed Satellite, Fixed Satellite Service SAT-LOA-20061222-00158 E S2717 EchoStar Satellite Operating Corporation Launch and Operating Authority Withdrawn Effective Date: 01/05/2007 Nature of Service: Direct to Home Fixed Satellite, Fixed Satellite Service SAT-LOA-20061222-00159 E S2718 EchoStar Satellite Operating Corporation Launch and Operating Authority Withdrawn Effective Date: 01/05/2007 Nature of Service: Direct to Home Fixed Satellite, Fixed Satellite Service SAT-LOA-20061222-00160 E S2719 EchoStar Satellite Operating Corporation Launch and Operating Authority Withdrawn Effective Date: 01/05/2007 Nature of Service: Direct to Home Fixed Satellite, Fixed Satellite Service SAT-LOA-20061222-00161 E S2720 EchoStar Satellite Operating Corporation Launch and Operating Authority Withdrawn Effective Date: 01/05/2007 Page 1 of 3 Nature of Service: Direct to Home Fixed Satellite, Fixed Satellite Service SAT-LOA-20061222-00162 E S2721 EchoStar Satellite Operating Corporation Launch and Operating Authority Withdrawn Effective Date: 01/05/2007 Nature of Service: Direct to Home Fixed Satellite, Fixed Satellite Service SAT-LOA-20061222-00163 E S2722 EchoStar Satellite Operating Corporation Launch and Operating Authority Withdrawn Effective Date: 01/05/2007 Nature of Service: Direct to Home Fixed Satellite, Fixed Satellite Service SAT-STA-20050601-00113 E XM Radio Inc.
    [Show full text]
  • The Mistake of Conditioning Approval of the Sirius-XM Merger on a Price Cap, 3 Brook
    Brooklyn Journal of Corporate, Financial & Commercial Law Volume 3 | Issue 2 Article 8 2009 Are You Sirius? The iM stake of Conditioning Approval of the Sirius-XM Merger on a Price Cap Samuel J. Gordon Follow this and additional works at: https://brooklynworks.brooklaw.edu/bjcfcl Recommended Citation Samuel J. Gordon, Are You Sirius? The Mistake of Conditioning Approval of the Sirius-XM Merger on a Price Cap, 3 Brook. J. Corp. Fin. & Com. L. (2009). Available at: https://brooklynworks.brooklaw.edu/bjcfcl/vol3/iss2/8 This Note is brought to you for free and open access by the Law Journals at BrooklynWorks. It has been accepted for inclusion in Brooklyn Journal of Corporate, Financial & Commercial Law by an authorized editor of BrooklynWorks. ARE YOU SIRIUS? THE MISTAKE OF CONDITIONING APPROVAL OF THE SIRIUS-XM MERGER ON A PRICE CAP On July 25, 2008, in a 3–2 decision along party lines, the Federal Communications Commission (FCC or Commission) voted to give the government’s final stamp of approval on the merger of Sirius Satellite Radio Inc. (Sirius) and XM Satellite Radio Holdings Inc. (XM) (collectively, the Applicants).1 The $3.3 billion dollar merger “was one of the most protracted in U.S. history,”2 not receiving approval until seventeen months after it was first proposed.3 The merger combined “the only entities authorized by the Commission to provide satellite radio service in the United States,”4 leaving just one satellite radio company, the newly merged Sirius XM Radio Inc.,5 to control the satellite radio frequencies and provide
    [Show full text]
  • 2014 Annual Report
    Annual Report NASDAQ: SATS Year Ended December 31, 2014 100 Inverness Terrace East Englewood, CO 80112 303.706.4000 | echostar.com March 20, 2015 Dear EchoStar Corporation Shareholders, 2014 was another outstanding year for EchoStar. From our financial performance to our continued progress in the satellite, broadband and video distribution platforms, we continue to demonstrate why we are a leader in the global provisioning of satellite operations and video-delivery solutions. EchoStar ended the 2014 fiscal year very strong, and we continue to meet our financial goals as a corporation. Revenues were $3.45 billion, increasing 5% over 2013, and EBITDA was $903 million—a 39% increase over the fiscal year 2013. Net Income attributable to EchoStar shareholders increased from $5 million in 2013 to $165 million in 2014. We continue to have a very strong balance sheet, with approximately $1.7 billion of cash and marketable securities, giving us ample resources to continue to pursue our strategic objectives. EchoStar has evolved into one of the world’s largest products-and-services companies for satellite-based broadcast and broadband networking. Our vertical integration gives us a unique position in our current markets and also in other markets that we continue to enter. Each of our four divisions plays a role in this strategy, and as we go into the future we will make investments to increase our market share in all of these segments: x We now own, lease and/or manage 24 satellites and continue to add to this fleet. In addition to the Ku and Ka satellites that we have in our fleet, we now have five satellites under construction, including a satellite for mobility services in Europe.
    [Show full text]
  • SES SES GLOBAL AMERICAS HOLDINGS GP Château De Betzdorf 4 Research Way L-6815 Betzdorf Princeton Luxembourg New Jersey 08540 United States of America
    PROSPECTUS SES (incorporated as a société anonyme under the laws of Luxembourg ) SES GLOBAL AMERICAS HOLDINGS GP (established as a general partnership under the laws of the State of Delaware ) €4,000,000,000 Euro Medium Term Note Programme This document comprises two base prospectuses (together, the Prospectus ): (i) the base prospectus for SES in respect of non-equity securities within the meaning of Article 22 no. 6(4) of Commission Regulation (EC) No. 809/2004 of 29 April 2004 implementing Directive 2003/71/EC of 4 November 2003 of the European Parliament and of the Council on the prospectus to be published when securities are offered to the public or admitted to trading and amending Directive 2001/34/EC, as amended (the Notes ) to be issued by it under this €4,000,000,000 Euro Medium Term Note Programme (the Programme ) and (ii) the base prospectus for SES Global Americas Holdings GP ( SES Americas ) in respect of Notes to be issued by it under this Programme. Under the Programme, SES and SES Americas (each an Issuer and, together, the Issuers ) may from time to time issue Notes denominated in any currency agreed between the relevant Issuer and the relevant Dealer (as defined below). The payment of all amounts due in respect of the Notes issued by SES Americas will be unconditionally and irrevocably guaranteed by SES and the payment of all amounts due in respect of the Notes issued by SES will, subject to the provisions of Condition 17 in “ Terms and Conditions of the Notes ”, be unconditionally and irrevocably guaranteed by SES Americas (each in its capacity as guarantor, the Guarantor ).
    [Show full text]
  • 2020 Annual Report
    20ANNUAL 20REPORT YEAR ENDED DECEMBER 31, 2020 CONNECTING THE WORLD March 17, 2021 Dear EchoStar Corporation Shareholder, 2020 was a challenging year for everyone, but despite all the hurdles, our EchoStar team delivered. When it was needed the most, our team rose to the occasion and delivered essential broadband services and technologies connecting millions around the world while continuing to innovate and move the business forward. Notable highlights of 2020 include: • More than 1.5 million subscribers across two continents rely on HughesNet® for their internet access, including approximately 375,000 subscribers across Latin America. • The Gartner November 2020 Magic Quadrant for Managed Network Services recognized the Hughes Division as a pioneer of performance optimization technology. The Frost & Sullivan 2020 Frost Radar report rated Hughes as a leader in both growth and innovation, ranking among the top three managed SD-WAN providers for growth • We joined the consortium purchasing OneWeb out of bankruptcy and were selected to develop and manufacture essential ground system technology for the new LEO constellation. • We partnered with Jersey Telecom to bring true, hybrid satellite/cellular capability to Internet of Things (IoT) and Mobility customers across Europe and the U.K. • The Government Innovation Awards named Hughes an Industry Innovator, for its work at the forefront of government network modernization. • Inmarsat chose to partner with Hughes for its new GX North America aero service, leveraging the capacity density of
    [Show full text]