EchoStar Splits Pay-TV, Technology Into Two Companies On New Years Day

EchoStar (NSDQ: DISH) plans to start 2008 with a magic act of sorts — splitting itself into two companies. The spinoff, announced at the same time as EchoStar’s roughly $380 million acquisition of Sling Media in late September, will leave EchoStar Communications Corp. with satellite TV business DISH Network, while EchoStar Holding Corp. will contain Sling, the set-top business and other tech assets. EchoStar Communications will then change its name to DISH Network Corp. EchoStar Holding will trade on Nasdaq using the symbol “SATS” when the market opens Jan. 2. (via Reuters) Release

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