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DISH Network Statement on Bankruptcy Court Approval of TerreStar's Reorganization(February 15, 2012)
ENGLEWOOD, CO -- (Marketwire) -- 02/15/12 -- DISH Network Corporation (NASDAQ: DISH) issued the following statement today regarding final bankruptcy court approval of TerreStar Networks' reorganization plan:
"DISH Network is pleased to announce that a U.S. bankruptcy court today confirmed TerreStar's reorganization plan to emerge from bankruptcy. The U.S. bankruptcy courts previously authorized TerreStar and DBSD to sell their spectrum licenses to DISH during the middle of 2011.
"DISH is prepared to close both transactions upon receipt of Federal Communications Commission approval of the license transfers and associated waiver requests. With these approvals, DISH would immediately begin the design and construction planning for the nation's first 100 percent LTE network. The requested waivers are necessary, among other things, to remove an outdated requirement for every handset to have the capability to establish a communications link to a satellite. The waiver of this requirement will allow DISH to provide more meaningful competition and greater choice for wireless consumers."
About DISH Network
DISH Network Corporation (NASDAQ: DISH), through its subsidiary DISH Network L.L.C., provides approximately 13.945 million satellite TV customers, as of Sept. 30, 2011, with the highest quality programming and technology with the most choices at the best value, including HD Free for Life. Subscribers enjoy the largest high definition line-up with more than 200 national HD channels, the most international channels, and award-winning HD and DVR technology. DISH Network's subsidiary, Blockbuster L.L.C., delivers family entertainment to millions of customers around the world. DISH Network Corporation is a Fortune 200 company. Visit www.dish.com.
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