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Monday, February 14, 2011

EchoStar to buy Hughes Communications for $1.33 bln

EchoStar Corp agreed to buy Hughes Communications Inc for $1.33 billion, giving the digital set-top box maker the needed bandwidth to better serve its key customer Dish Network . Hughes is one of the world's largest providers of broadband satellite services and the deal could help EchoStar, co-founded by Dish Network's CEO and billionaire Charlie Ergen, provide an array of services such as mobile television and Internet Protocol TV. Dish accounts for more than 80 percent of EchoStar's revenue, which includes sales of set-top boxes and related services.

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