EchoStar files $80M stock offering to fund DBS. (EchoStar Communications Corp.; direct-broadcast satellite service)
Multichannel News, May, 1995 by Gibbons, Kent
EchoStar Communications Corp., planning to enter the direct-broadcast satellite market early next year, has filed for an $80 million stock offering to bolster its development plans. EchoStar hopes to sell 5 million shares of stock at $16 each. That would be about 10 percent of the firm's total stock, and it would value the company at more than $800 million.
The May 1 filing came only days after the Federal Communications Commission dealt a blow to rival PrimeStar Partners L.P.'s plans to shift to high-powered satellites with more capacity than EchoStar would have. That FCC decision could boost the EchoStar offering's chances. EchoStar's revenue now comes mostly from selling backyard satellite dish gear. Last year, EchoStars total revenue fell by 14...
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