{"id":85366,"date":"2011-02-15T21:48:45","date_gmt":"2011-02-15T13:48:45","guid":{"rendered":"https:\/\/wp-productionenv-bjg9h2g2bgg5b8aa.southeastasia-01.azurewebsites.net\/news\/echostar-buys-hughes-for-2-billion\/"},"modified":"2011-02-15T21:48:45","modified_gmt":"2011-02-15T13:48:45","slug":"echostar-buys-hughes-for-2-billion","status":"publish","type":"post","link":"https:\/\/starpath.global\/news\/echostar-buys-hughes-for-2-billion\/","title":{"rendered":"EchoStar Buys Hughes for $2 Billion"},"content":{"rendered":"<p>\n[02-15-11] <strong>EchoStar<\/strong> entered into an agreement acquire <strong>Hughes Communications<\/strong> and its subsidiaries, including its main operating subsidiary Hughes Network Systems, for about $2 billion, EchoStar announced Feb. 14.<br \/>\n&nbsp;&nbsp;&nbsp; The transaction, which has been approved by the boards of both companies as well as by Apollo Management, Hughes\u2019 previous majority stockholder, will see EchoStar pay Hughes\u2019 shareholders $60.70 per share without interest. The payment includes a 31 percent premium from Hughes\u2019 Jan. 19 closing share price of $46.43. In January, analysts speculated that Apollo\u2019s auction of Hughes would generate a per-share price in the mid-$60 region. <br \/>\n&nbsp;&nbsp;&nbsp; EchoStar president and CEO Michael Dugan said the transaction aims to enhance his company\u2019s video and data broadband transport capabilities. \u201cThere is a unique and compelling fit between Hughes and EchoStar. With a rich engineering culture, an extensive fleet of owned and leased satellites and experienced personnel in communications centers around the world, the combination of EchoStar and Hughes will create a powerful leader in video and data transport,\u201d Dugan said in a statement.<br \/>\n&nbsp;&nbsp;&nbsp; The transaction is expected to close later this year, subject to closing conditions and federal regulatory approvals. <br \/>\n<em><br \/>\nMore details of the EchoStar acquisition of Hughes are available to subscribers of Satellite News, our premium b2b weekly e-newsletter and Web news service. To subscribe to Satellite News, visit www.satellitetoday.com\/subscribe<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[02-15-11] EchoStar entered into an agreement acquire Hughes Communications and its subsidiaries, including its main operating subsidiary Hughes Network Systems, for about $2 billion, EchoStar announced Feb. 14. &nbsp;&nbsp;&nbsp; The transaction, which has been approved by the boards of both companies as well as by Apollo Management, Hughes\u2019 previous majority stockholder, will see EchoStar pay [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[],"class_list":["post-85366","post","type-post","status-publish","format-standard","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/85366"}],"collection":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/comments?post=85366"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/85366\/revisions"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=85366"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=85366"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=85366"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}