EchoStar Corporation (NASDAQ: SATS) announced a series of key transactions intended to give the company incremental strategic, financial, and operating flexibility for its business following completion of its merger with DISH Network. The merger, which closed on December 31, combined DISH Network’s satellite technology, streaming services and nationwide 5G network with EchoStar’s satellite communications solutions, Inside Towers reported.
In a major strategic step, DISH Network transferred certain of its diverse unencumbered wireless spectrum licenses, including AWS-4, H-Block, CBRS, C-band-Cheyenne, 12 GHz, LMDS, 24 GHz, 28 GHz, 37 GHz, 30 GHz and 47 GHz, to a newly formed, wholly-owned subsidiary, EchoStar Wireless Holding. DISH Network will retain ownership of other wireless spectrum licenses, including 600 MHz, 700 MHz, 3.45 GHz and AWS-3, of which 700 MHz and AWS-3 also remain unencumbered, meaning that spectrum is not being used as collateral for loans and has no sales restriction. DISH Network also retains ownership of DISH DBS Corporation, the company’s satellite pay-TV service.
In the aftermath of the merger completion, DISH Network announced in a Worker Adjustment and Retraining Notification (WARN) Act filing last week that it plans to lay off nearly 160 employees at its Englewood, CO headquarters this spring, The Denver Gazette reported. These job cuts follow a November announcement of a 500-position reduction, Inside Towers reported.
With the requisite 60-day notification period as required by the WARN Act, the layoffs will become effective on March 8. The affected employees are not represented by any union, according to the notification DISH sent to the Colorado Department of Labor and Employment. Employees being laid off held positions as Wireless Senior Reps, Intermediate CS and Tech Reps, and Relationship Repair Specialists.
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