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EchoStar Announces Suite of Transformative Transactions to Delever Its Balance Sheet and Improve Its Debt Maturity Profile, Transition Its Strategic Focus and Pave the Road for it to Enhance and Further Deploy its Nationwide 5G Open RAN Wireless Network

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Agreement to sell DISH DBS to DIRECTV refocuses portfolio on growing wireless and satellite connectivity marketsRaises $5.1 billion of capital from existing stakeholders for investment in nationwide 5G Open RAN network and other general corporate purposes Funds near-term maturity and significantly reduces refinancing needs in the next 24-36 months Provides access to approximately $1.5 billion of DISH Pay-TV cash flow pending closing of DISH DBS sale1Conference call for EchoStar investors at 8:30 am ET Monday Sept 30th

ENGLEWOOD, Colo., Sept. 30, 2024 /PRNewswire/ — EchoStar Corporation (“EchoStar”), a global, fully integrated communication and content delivery leader and provider of technology, spectrum, engineering, manufacturing, networking services, television entertainment and connectivity, today announced a suite of transformative transactions, including:

an agreement to sell DISH DBS Corporation (“DBS”) (its Pay-TV business, which includes Sling TV) to DIRECTV creating a combined company that will be better positioned to invest in its services and negotiate with programmers for the content that consumers demand, delivering more choices and better value to its consumers;the receipt of approximately $2.5 billion in new financing from TPG Angelo Gordon and certain co-investors at DBS to address its November 2024 debt maturity and provide interim liquidity;various exchange offers to DBS bondholders providing the opportunity for its stakeholders to support the combination of the DBS and DIRECTV business and roll into the attractive combined credit;a comprehensive financing solution and balance sheet optimization transaction at EchoStar through:a Transaction Support Agreement with certain holders (the “DISH Supporting Investors”) of its subsidiary DISH Network Corporation’s 0% convertible notes due 2025 (the “2025 Notes”) and 3.375% convertible notes due 2026 (the “2026 Notes” and, together with the 2025 Notes, the “DISH Convertible Notes”) providing for the exchange of DISH Convertible Notes for new EchoStar secured notes maturing in 2030; anda Commitment Agreement with certain of the DISH Supporting Investors to invest $5.1 billion of new capital in EchoStar through the purchase of EchoStar secured notes maturing in 2029.

Today’s announcements accelerate EchoStar’s mission of deploying a nationwide facilities-based wireless service to compete with dominant incumbent wireless carriers and its ability to further leverage its satellite assets and experience, including developing innovative direct-to-device (D2D) solutions. U.S. consumers will benefit from EchoStar’s ability to focus more clearly on enhancing and further deploying its nationwide 5G Open RAN wireless network, which will provide more choices and better service to consumers under the Boost Mobile brand, while driving innovation at a faster pace.

“Today’s strategic actions will advance our ability to aggressively compete in the U.S. wireless market. Customers of legacy incumbents will be waking up and paying attention to our state-of-the-art network,” said Hamid Akhavan, President and Chief Executive Officer, EchoStar. “With an improved financial profile and a unique approach, we expect to gain share, drive shareholder value, and provide more options for U.S. wireless consumers. Our collaboration with our existing stakeholders to achieve this holistic recapitalization solution at EchoStar is a testament to their continued support of our vision, and we greatly appreciate their partnership and continued investment in our mission.”

DIRECTV Transaction; DBS Exchange Offers and TPG Angelo Gordon Financing

Under the terms of an equity purchase agreement between EchoStar and DIRECTV, DIRECTV will acquire EchoStar’s video distribution businesses, DISH and Sling TV, in exchange for the assumption of DBS debt and certain other consideration, including the release of all DISH Network intercompany obligations to DISH DBS. DBS has commenced exchange offers and consent solicitations for five different series of DBS notes with a total face value of approximately $9.75 billion, including seeking certain consents from the holders of such notes to facilitate the acquisition, including to convert such notes, upon closing of the acquisition, into DIRECTV debt which will have terms that mirror DIRECTV’s existing secured debt. 

The transaction, which the boards of directors of both companies have unanimously approved, is expected to close in the fourth quarter of 2025. The transaction is subject to various closing conditions, including, but not limited to, a requisite amount of the outstanding DBS notes being tendered into the Exchange Offer, completion of a pre-closing reorganization, and receipt of required regulatory approvals.

In addition, TPG Angelo Gordon and certain co-investors have provided $2.5 billion of financing to DBS to fully refinance DBS’ November 2024 debt maturity and provide interim liquidity.

Furthermore, the release of intercompany obligations in connection with the closing of the transaction creates the ability for EchoStar to fully unencumber the 3.45-3.55 GHz spectrum unlocking incremental strategic and operating flexibility.

Comprehensive EchoStar Financing Solution and Balance Sheet Optimization

Under the terms of a Transaction Support Agreement between EchoStar and the DISH Supporting Investors collectively representing over 85% of the aggregate principal amount outstanding of the DISH Convertible Notes, all holders of DISH Convertible Notes will have the opportunity to exchange their DISH Convertible Notes for new secured notes and secured convertible notes of EchoStar maturing in 2030. The DISH Supporting Investors have committed to participate with all of their DISH Convertible Notes in the exchange. In addition, certain members of the DISH Supporting Investors and a related party of Charles W. Ergen, the Company’s chairman, have entered into a Commitment Agreement pursuant to which EchoStar will issue $5.1 billion of new senior secured notes maturing in 2029 for cash. These new notes will be secured by EchoStar’s AWS-3 and AWS-4 spectrum assets. The commitment of the Ergen related party is for $100 million of such notes and was unanimously approved by the Audit Committee of the Company’s Board of Directors.

The $5.1 billion new money financing from the Supporting Investors will provide EchoStar with significant capital for the buildout of its Boost Mobile nationwide 5G Open RAN network. The commitment from the DISH Convertible Notes will significantly improve EchoStar’s debt maturity profile through the extension of debt maturities from 2025 and 2026 to 2029.   

Finally, the Company entered into subscription agreements with certain accredited investors and CONX Corp., a Nevada corporation (“CONX”) indirectly controlled by Charles W. Ergen (the “PIPE Investors” and the subscription agreements, the “Subscription Agreements”), pursuant to which the PIPE Investors have agreed, subject to the terms and conditions set forth therein, to purchase from the Company an aggregate of 14.265 million shares (the “PIPE Shares”) of the Company’s Class A common stock, par value $0.01 per share, at a purchase price of $28.04 per share, the closing price for the Company’s Class A common stock on September 27, 2024, for an aggregate cash purchase price of approximately $400 million (such investment, the “PIPE Investment”). The portion of the PIPE Investment represented by the CONX Subscription Agreement represents an agreement to purchase from the Company an aggregate of 1.551 million shares of the Company’s Class A common stock for an aggregate cash purchase price of approximately $43.5 million. The CONX Subscription Agreement was unanimously approved by the Audit Committee of the Company’s Board of Directors. The PIPE Investment is conditioned on and expected to close concurrently with the closing of the DISH Convertible Notes exchange offers and new senior secured notes, subject to the terms and conditions set forth in the Subscription Agreements.

Advisors

J.P. Morgan acted as financial advisor to EchoStar for the DIRECTV and TPG Angelo Gordon transactions. Houlihan Lokey, Inc. served as financial advisor for the transactions with the DISH Supporting Investors.  White & Case LLP served as legal advisor to EchoStar for both transactions.

Centerview Partners served as exclusive financial advisor and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as exclusive legal advisor to the ad hoc group of holders of 2025 DISH Convertible Notes, and Perella Weinberg Partners served as exclusive financial advisor and Akin Gump Strauss Hauer & Feld LLP served as exclusive legal counsel to the ad hoc group of holders of 2026 DISH Convertible Notes.

Conference Call

EchoStar will host a conference call on Monday, September 30, at 8:30 a.m. ET to discuss these transactions. To attend the call, please dial the number below and provide the conference ID when prompted. A presentation to accompany the call will be available on ir.echostar.com at the time of the call.

Participant conference numbers: (877) 484-6065 (U.S.) and (201) 689-8846
Conference ID: 13749306

Please dial in at least 10 minutes before the call to ensure timely participation.

*********

1 Cash flow for period from June 30, 2024 to September 30, 2025.

About EchoStar (NASDAQ: SATS)
EchoStar Corporation (Nasdaq: SATS) is a premier provider of technology, networking services, television entertainment and connectivity, offering consumer, enterprise, operator, and government solutions worldwide under its EchoStar®, Boost Mobile®, Sling TV, DISH TV, Hughes®, HughesNet®, HughesON™ and JUPITER™ brands. In Europe, EchoStar operates under its EchoStar Mobile Limited subsidiary and in Australia, the company operates as EchoStar Global Australia. For more information, visit www.echostar.com and follow EchoStar on X (Twitter) and LinkedIn.

©2024 EchoStar. Hughes, HughesNet, DISH and Boost Mobile are registered trademarks of one or more affiliate companies of EchoStar Corp.

No Offer

This communication is not intended to and does not constitute an offer to sell, buy or subscribe for any securities or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. In particular, this communication is not an offer of securities for sale into the United States. No offer of securities shall be made in the United States absent registration under the Securities Act of 1933, as amended, or pursuant to an exemption from, or in a transaction not subject to, such registration requirements.

Note Regarding Forward-Looking Statements

This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events that may not prove to be accurate. Such statements include, in particular, statements about potential exchange offers and financing transactions. These statements are neither promises nor guarantees but are subject to a variety of risks and uncertainties, many of which are beyond EchoStar and the Company’s control, which could cause actual results to differ materially from those contemplated in these forward-looking statements. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Factors that could cause actual results to differ materially from those expressed or implied include the factors discussed under the section entitled “Risk Factors” of EchoStar and the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, filed with the Securities and Exchange Commission (“SEC”), and under the section entitled “Risk Factors” of EchoStar’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, filed with the SEC. EchoStar and the Company undertakes no obligation to update or supplement any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.

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SOURCE EchoStar Corporation

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Faith: The Spark Born by the Yudu Riverside

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BEIJING, Oct. 18, 2026 /PRNewswire/ — An interview from China.org.cn with Wang Xiaohui and David Ferguson on the Long March:

David Ferguson:

This is the Yudu River. One dusk in October, 1934, more than 86,000 soldiers of the Red Army crossed this river and embarked on the Long March, a two-year saga that has left its mark in history.

Yet, lingering here by the river, I am struck by a simple question: If you have faith in a bright future, and reality seems to thwart you at every turn, where do you find the moral strength to keep believing?

Wang Xiaohui:

At dusk on Oct. 17, 1934, an army of more than 86,000 troops gathered along the banks of the Yudu River. Over 800 boats of all sizes floated on the water, bound together with planks collected from villagers’ home gates, timber beams, and even coffin boards reserved for elderly locals. The people of Yudu built this pontoon bridge, determined to help the army led by the Communist Party of China (CPC) cross the river.

At that time, no one knew that the great expedition embarked upon by the banks of the Yudu River would go on to transform China and exert far-reaching influence across the world.

China in the 1920s and 1930s was plagued by chaos and despair.

The Kuomintang (KMT), the ruling party back then, was not capable of unifying the nation, leaving warlords locked in endless fighting. In 1931, Japanese invaders launched an assault on northeastern China, beginning their invasion. Crushed under domestic turbulence and foreign aggression, countless civilians were displaced, with many even starving to death on the streets; in certain regions, severe drought resulted in zero harvests, yet the farmers were forced to pay land taxes assessed for more than a decade into the future.

Amid this turmoil, the only glimmer of hope for the Chinese nation was kindled by the revolution ignited by the Communist Party of China.

The CPC, dedicated to winning liberation for the people and national independence, built contingents of workers’ and peasants’ Red Army troops and revolutionary base areas across the countryside. Impoverished farmers were granted land ownership, as well as unprecedented political dignity. On Nov. 7, 1931, the Chinese Soviet Republic was officially proclaimed in Ruijin, then a small village in southeastern China’s Jiangxi Province, establishing a Soviet system under which workers, peasants and soldiers elected representatives to run regional affairs and make policies.

The communist ideal of a fair society free from exploitation and equality for all blazed like a spark in the darkness; it kindled hopes among impoverished Chinese and became the wellspring of faith that enabled the Red Army — a force made up of poor workers and peasants — to overcome all hardships in the days to come.

Yet, bright as the spark was, it burned thin and fragile at times. Could this flame still endure when the ideals it carried were repeatedly battered by harsh reality?

In September 1933, flocks of warplanes clouded the skies over the Red Army’s revolutionary base areas. By then, Japanese invaders were steadily advancing towards North China, but Chiang Kai-shek’s KMT turned a blind eye to the looming national crisis. They mobilized over a million troops and more than 200 aircraft to launch a massive offensive at the Red Army’s base areas. Over the previous three years, Chiang Kai-shek had mounted four major military “encirclement” campaigns aimed at exterminating the Red Army, but all ended in failure. He was desperate for a pivotal victory to restore his prestige and to wipe out the CPC and the Red Army.

At the time, the commander of the Red Army abandoned mobile warfare tactics pioneered by Mao Zedong and other commanders, opting instead for rigid positional warfare involving conventional head-on clashes. But the reality was, some Red Army units didn’t even possess a single light machine gun; how could they confront the heavily-armed KMT army head-on?

Zhong Ming, a Red Army medic, could never erase the memories of gravely wounded soldiers being carried to his aid station. He remembered how a soldier whose chest was blown open begged his comrades to end his life. At the frontline, a whole battalion of Red Army soldiers religiously followed orders to defend crude earth-and-wood bunkers, but under the constant barrage of KMT artillery and airstrikes, every soldier in the battalion laid down their lives; not a single man survived.

What’s more heart-wrenching is that no matter how fearlessly the Red Army fought, the steep imbalance in military strength, paired with erroneous military command led to irreversible losses. By October 1934, the KMT’s iron-clad encirclement closed menacingly around Ruijin.

Faced with this dead-end, what decision would you make?

This stood as the most agonizing decision for the Red Army. The biggest challenge lay not in sacrificing one’s life for an ideal, but in finding a way to keep the revolutionary cause alive.

To stay meant defeat — the Red Army had no room to maneuver within the Central Revolutionary Base Area. To break through the encirclement, however slim the odds, offered a fighting chance. Preserving the Red Army as a living force mattered much more than clinging to isolated strongholds. Where the spark survives, the path ahead remains lit.

The air already turned chilly in October. Units of the Central Red Army assembled in Yudu to prepare for a strategic shift. The plan was kept strictly classified; none of the soldiers knew they were evacuating the base areas, only sensing an unusual vibe.

At dusk on Oct. 17, crowds lined up at the Yudu riverbank. Tens of thousands of villagers flocked from every corner to see the Red Army off. They walked alongside the marching columns, slipping food like eggs and glutinous rice balls into the soldiers’ pockets, praying for their swift homecoming.

The main force of the Central Red Army set off. Within days, they left behind revolutionary base areas where they had survived, grown and taken root. No one anticipated that the journey they embarked on would become the Long March, a trek spanning over 10 provinces. Still less could anyone imagine that this journey would ultimately pave the way for a brand-new China.

Looking back on this chapter of history, many claim that the Red Army only set out on this expedition because the enemies left them no other choice. To a degree, yes, the Long March was indeed a forced strategic shift, yet this fact does nothing to diminish its greatness and glory.

The ordinary Red Army soldiers had no idea how far they would march, or where they were heading. But they clung firmly to their founding mission: to deliver liberation for the people and independence to the nation. This unswerving conviction kept them from disintegrating through countless perils, sustaining them as they marched into the unknown with resolve.

David Ferguson:

I now realize that faith and ideals untested by harsh reality may have no true substance.

Since its founding, the Communist Party of China has always upheld the realization of communism as its fundamental goal. Despite devastating losses and extreme adversity, the Red Army continued to press forward resolutely and never faltered. Its inner strength came from an unshakable belief in the cause, an unwavering commitment to the founding aspiration, and a profound sense of mission. The Red Army was never fleeing pursuers in search of safety; it was marching forward to a future in which it had a steadfast belief.

Wang Xiaohui:

The Long March went on for two years. The Red Army trekked 25,000 li across some of China’s harshest terrain, but they kept their heads high, seeking hope amid despair and marching towards light through unending darkness. The lofty ideals and sense of mission they upheld have also become the torch that guides generations of CPC members in the following centennial, tempering them into steel as they press forward unswervingly toward national rejuvenation.

That spark lit along the Yudu River has never dimmed since.

China Mosaic
http://www.china.org.cn/video/node_7230027.htm

Faith: The Spark Born by the Yudu Riverside
http://www.china.org.cn/2026-10/16/content_118736835.shtml

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SOURCE China.org.cn

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Linktel Technologies Highlights Breakthrough 1.6T LPO Performance & Strong Market Pull at OCP 2026

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SAN JOSE, Calif., Oct. 18, 2026 /PRNewswire/ — At the recent 2026 OCP Global Summit, Linktel Technologies showcased its cutting-edge optical interconnect portfolios engineered specifically for next-generation AI computing networks. Among the heavy lineup, Linktel’s 1.6T Linear Pluggable Optics (LPO) solutions commanded immense industry attention, drawing heavy customer interest for their unprecedented energy efficiency, ultra-low latency, and supply-chain resilience.

Spotlight: 1.6T LPO Performance & High Customer Traction

AI data centers face immense scaling pressures, demanding higher bandwidth densities with tighter thermal and power budgets. Linktel’s 1.6T LPO solutions—highlighted by the 1.6T LPO 2DR4—delivered standout performance metrics that captured the spotlight at the summit:

Ultra-Low Power Consumption: Operates with power consumption as low as an impressive 10W, drastically mitigating data center cooling and power loads.Minimal Latency: Features a linear optics architecture that cuts down signal processing delays, making it a critical asset for high-performance AI scale-out fabrics.Enhanced Supply-Chain Resilience: Eliminating the optical DSP mitigates component choke points, ensuring robust scalability for mass deployments.Proven Interoperability: Following its breakthrough performance and multi-switch platform interoperability at the early September 2026 1.6T LPO-MSA Plugfest, Linktel has laid a solid foundation for the 200G-per-wavelength ecosystem.

Surging Market Interest

Throughout OCP 2026, Linktel’s live demonstrations of its 1.6T LPO, LRO, and FRO modules drew crowds of data center architects and industry partners. With volume production already in place, Linktel is fully equipped to meet the exploding market demand for energy-efficient, high-density 1.6T connectivity.

Overview of Other Innovations at OCP 2026

In addition to the heavily requested 1.6T LPO lineup, Linktel showcased two other major high-speed architectural pillars:

12.8T Liquid-Cooled XPO:Featured a live thermal demonstration integrating advanced liquid cooling to guarantee stable operations in high-density AI nodes.As a founding member of the XPO MSA, Linktel is actively scaling XPO series with FRO, LRO, and LPO variants for comprehensive scale-up, scale-out, and scale-across frameworks.6.4T/7.2T NPO Modules:Displayed with covers removed to reveal internal architectural designs supporting both ELS and ILS configurations.Combines compact high density with low power and low latency, backed by an established 6.4T/7.2T NPO roadmap.DMD Technology & Executive Presentation:Linktel Engineer Director Dr. Grace Zhang hosted a heavily attended Executive Session titled “Dispersion Managed Transceiver for Next-Gen AI Fabrics,” detailing cost-effective 800G (20km) and 1.6T (10km) solutions for OCS SuperPOD architectures, as well as the feasibility of 400G per lambda (3km).With its DMD product line already in volume production, Linktel actively calls upon ecosystem partners to join forces in collaborative development. To drive ecosystem maturity, Linktel is open to sharing its U.S.-filed patents, paving the way for industry-wide adoption and advancements in next-gen AI fabrics.

About Linktel Technologies

Linktel Technologies is a global leader in optical transceiver development and manufacturing, supplying high-speed optical I/O connectivity—including pluggable transceivers, optical engines, and ODM/JDM services.

For more information, visit www.linktel.com or follow Linktel Technologies on LinkedIn.

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SOURCE Linktel Technologies

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Advanced Manufacturing in Focus: Smart Life and Robotics Take the Spotlight at 140th Canton Fair

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GUANGZHOU, China, Oct. 18, 2026 /CNW/ — Phase 1 of the 140th Canton Fair, themed “Advanced Manufacturing,” opened on October 15 and will run through October 19. As one of the event’s most closely watched sections, the Consumer Electronics and Information Products zone once again serves as a showcase for the latest achievements in China’s manufacturing and technology industries.

Smart Life Solutions Address an Aging and Globalized Market

A highlight of this section is the focus on smart living, which brings together smart solutions designed to support healthier, safer, and more independent lifestyles.

For example, wearable devices and continuous glucose monitoring systems enable convenient tracking of key health indicators such as heart rate and blood glucose levels. Meanwhile, wearable exoskeletons and other AI-powered devices support mobility training and functional recovery. For home and elderly care, companion robots, electric nursing beds and home-use hyperbaric oxygen chambers, offer a combination of daily care, wellness support and lifestyle assistance. All these solutions highlight a growing shift toward technology-enabled living, where health management, personal care, and independent living are becoming more accessible and connected.

Service Robots Demonstrate Expanding Real-World Applications

The Service Robot Zone remains one of the fair’s most popular attractions in this edition.

Among the crowd favorites is a humanoid robot standing roughly 70–80 centimeters tall. With its expressive movements and playful appearance, the robot draws constant attention as it dances, approaches visitors and occasionally performs flips to the delight of onlookers. Behind the product is a company that has overcome key challenges in compact joint modules and modular humanoid robot development. Its independently developed high-power-density joints deliver remarkable agility and explosive movement, while modular architecture provides flexibility for a wide range of future applications.

More broadly, the Service Robot Zone features exhibits spanning a wide range of application areas, including embodied intelligence, specialized operations, urban services, and smart living. Full-size humanoid robots, dexterous hands with multimodal sensing capabilities and wheeled robots highlight the latest advances in artificial intelligence, perception technologies and motion control. For demanding industrial and emergency environments, exhibitors are presenting robotic inspection systems, live-line maintenance robots and underwater propulsion robots designed to improve safety and operational efficiency.

The commercial services sector is also well represented through reception robots, façade-cleaning robots and fully automated coffee kiosks, while everyday life applications include wearable exoskeletons, robotic lawn mowers and educational robots for home use. Together, these exhibits demonstrate how China’s robotics industry is accelerating its transition from technological innovation to large-scale commercialization.

As the 140th Canton Fair gets underway, the showcased innovations highlight China’s growing strength in advanced manufacturing, turning cutting-edge technologies into practical, market-ready solutions for global customers.

For more convenient attendance, please click here for pre-registration:
https://buyer.cantonfair.org.cn/register/buyer/email?source_type=16

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SOURCE Canton Fair

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