EchoStar Communications to separate its technology business on Jan. 1

By Lisa Kerner

Charlotte, N.C., Dec. 31 - EchoStar Communications Corp. will distribute shares of EchoStar Holding Corp. common stock to its shareholders effective 2:01 a.m. ET on Jan. 1.

As a result, EchoStar Holding will hold the technology and "certain infrastructure assets" of EchoStar Communications, including its set-top box business and some satellite assets, a company news release stated.

EchoStar Communications will retain DISH Network, its pay-TV business.

Shareholders of EchoStar Communications stock will receive 0.2 of a share of the same class of common stock of EchoStar Holding.

Shares of EchoStar Holding will be listed on the Nasdaq Global Select Market under the symbol "SATS." EchoStar Communications' shares will continue to trade on the Nasdaq Global Select Market under the symbol "DISH."

EchoStar Communications is a satellite TV equipment and support company based in Englewood, Colo.

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