EchoStar Communications is to complete the planned spinoff of its equipment business from Dish Network today.
For each share held as of last Thursday, EchoStar investors receive 0.2 shares of EchoStar Holding Corp., the new publicly traded company that will include the broadcast-satellite receiver, antenna and commercial-satellite businesses, the company said last week.
The remaining business, focused on satellite TV, will become Dish Network Corp. after the separation is completed and will continue to trade under the DISH ticker symbol.
EchoStar, based in Douglas County, announced the possibility of a split in September. Chief executive Charles Ergen said the separation would increase the company’s value and help finance expansion. Ergen remains CEO and chairman of both companies.
