Technology

EchoStar Corporation Announces Exchange Offers and Consent Solicitations to exchange 5.25% Senior Secured Notes due 2026, 5.75% Senior Secured Notes due 2028, 7.75% Senior Notes due 2026, 7.375% Senior Notes due 2028, and 5.125% Senior Notes due 2029 Issued by DISH DBS Corporation for New DBS Notes (as defined herein) issued by DISH DBS Corporation

Published

2 months ago

September 30, 2024

Subject to the Satisfaction of the Terms and Conditions Described in the Exchange Offering Memorandum, the New DBS Notes Will Be Mandatorily Exchanged for New Secured Notes Issued by DTV Issuer (as defined herein) immediately prior to the consummation of the Acquisition Transaction (as defined below)

ENGLEWOOD, Colo., Sept. 30, 2024 /PRNewswire/ — EchoStar Corporation (Nasdaq: SATS) (“EchoStar”), today announced that DISH DBS Corporation (“DBS”) has commenced offers to exchange (the “Exchange Offers”) any and all of its (a) 5.25% Senior Secured Notes due 2026 (the “Outstanding 2026 DBS Secured Notes”) for an equal principal amount of its new 5.25% First Lien Notes due 2026 (the “New 2026 DBS First Lien Notes”), (b) 5.75% Senior Secured Notes due 2028 (the “Outstanding 2028 DBS Secured Notes”) for an equal principal amount of its new 5.75% First Lien Notes due 2028 (the “New 2028 DBS First Lien Notes”), (c) 7.75% Senior Notes due 2026 (the “Outstanding 2026 DBS Notes”) for an equal principal amount of its new 7.75% Second Lien Notes due 2026 (the “New 2026 DBS Second Lien Notes”), (d) 7.375% Senior Notes due 2028 (the “Outstanding 2028 DBS Notes”) for an equal principal amount of its new 7.375% Second Lien Notes due 2028 (the “New 2028 DBS Second Lien Notes”) and (e) 5.125% Senior Notes due 2029 (the “Outstanding 2029 DBS Notes” and, together with the Outstanding 2026 DBS Secured Notes, the Outstanding 2028 DBS Secured Notes, the Outstanding 2026 DBS Notes and the Outstanding 2028 DBS Notes, the “Outstanding Notes”) for an equal principal amount of its new 5.125% Second Lien Notes due 2029 (the “New 2029 DBS Second Lien Notes” and, together with the New 2026 DBS First Lien Notes, the New 2028 DBS First Lien Notes, the New 2026 DBS Second Lien Notes and the New 2028 DBS Second Lien Notes, the “New DBS Notes”), in each case, pursuant to the terms described in a confidential exchange offering memorandum and consent solicitation statement, dated September 30, 2024 (the “Exchange Offering Memorandum”). The Exchange Offers are being made only to Eligible Holders (as defined herein) of Outstanding Notes.

The New DBS Notes will be issued with substantially the same terms as the corresponding series of Outstanding Notes, including maturity, interest rate, interest payment dates and covenants, except for certain changes, including to facilitate the acquisition of the DISH Pay-TV Business by DIRECTV Holdings LLC, pursuant to an Equity Purchase Agreement (the “Purchase Agreement”) between DIRECTV Holdings LLC (“Purchaser”) and EchoStar (the “Acquisition Transaction”), as further described in the Exchange Offering Memorandum, in each case, upon the terms and subject to the conditions set forth in the Exchange Offering Memorandum.

The New 2026 DBS First Lien Notes and the New 2028 DBS First Lien Notes (collectively, the “New DBS First Lien Notes”) will be (i) senior secured obligations of DBS and (ii) guaranteed by DBS’ subsidiaries that are guarantors of the Outstanding Notes immediately prior to the Settlement Date, comprising certain of DBS’ principal operating subsidiaries (the “New DBS Guarantors”) on a senior secured basis (collectively, the “New DBS First Lien Notes Guarantees”). The New DBS First Lien Notes and New DBS First Lien Notes Guarantees will be secured by first-priority liens on substantially all existing and future tangible and intangible assets of DBS and the New DBS Guarantors, including a pledge of equity of DISH DBS Issuer LLC (“SubscriberCo”) by DISH Network L.L.C. (the “Equity Pledge”), subject to certain excluded assets (including the Intercompany Loan (as defined herein)) and permitted liens.

The New 2026 DBS Second Lien Notes, the New 2028 DBS Second Lien Notes and the New 2029 DBS Second Lien Notes (collectively, the “New DBS Second Lien Notes”) will be (i) senior secured obligations of DBS, (ii) guaranteed by the New DBS Guarantors on a senior secured basis (collectively, the “New DBS Second Lien Notes Guarantees”). The New DBS Second Lien Notes and New DBS Second Lien Notes Guarantees will be secured by second-priority liens on substantially all existing and future tangible and intangible assets of DBS and the New DBS Guarantors, including the Equity Pledge, subject to certain excluded assets (including the Intercompany Loan (as defined herein)) and permitted liens.

The New DBS Notes will accrue interest from, and including, the last interest payment date for the corresponding series of Outstanding Notes. Therefore, there will be no payment of accrued and unpaid interest on the Settlement Date of the Exchange Offers.

In connection with their participation in the applicable Exchange Offer and subject to the Acquisition Consent Threshold Condition (as defined below), each holder of New DBS Notes agrees in advance without further action on its part that each series of New DBS Notes will permit DBS, without the consent of the holders, to amend the indentures governing the New DBS Notes, following receipt of regulatory approval of the Acquisition Transaction, to provide that (a) if the Acquisition Transaction is or will be consummated on or prior to December 29, 2025 or any further date to which the then current Outside Date is extended pursuant to the Purchase Agreement (the “Outside Date”) and publicly announced promptly thereafter, then immediately prior to the consummation of the Acquisition Transaction, such New DBS Notes will be acquired by Purchaser, an affiliate of the DTV Issuer, in a mandatory exchange, at the applicable exchange rate described in the table below, with no further action by the holder of the New DBS Notes, for the applicable series of New DTV Issuer Notes set forth in the table below (the “New DTV Issuer Notes”, and together with the New DBS Notes, the “New Notes”), in each case to be issued by DIRECTV Financing, LLC and DIRECTV Financing Co-Obligor, Inc. (together with DIRECTV Financing, LLC, the “DTV Issuer”) with the terms set forth in the form of New DTV Issuer Notes Indentures included in the Exchange Offering Memorandum (each a “Mandatory Acquisition/Exchange” and collectively, the “Mandatory Acquisition/Exchanges”, and the reduction in the principal amount of New DBS Notes resulting from the Mandatory Acquisition/Exchanges is herein referred to as the “Principal Reduction”), or (b) if the Acquisition Transaction is not or will not be consummated on or prior to the Outside Date, then such New DBS Notes will remain outstanding as a separate series not fungible with the Outstanding Notes not validly tendered or otherwise accepted as part of the Exchange Offers, each on the terms and subject to the conditions as set forth in the Exchange Offering Memorandum. Any Outstanding Notes that are not validly tendered or are validly tendered and subsequently validly withdrawn in the Exchange Offers will not participate in the Exchange Offers or, if applicable, the Mandatory Acquisition/Exchanges. There are risks associated with not participating in the Exchange Offers.

In addition to the applicable New DTV Issuer Notes, holders of the New DBS Notes will receive a cash payment in respect of accrued interest, if any, on their New DBS Notes on the date of the settlement of the Mandatory Acquisition/Exchanges for the period since the last interest payment date in respect of the relevant series of New DBS Notes through but excluding the settlement date of the Mandatory Acquisition/Exchanges; and interest on the New DTV Issuer Notes will begin to accrue from and including the issue date of the New DTV Issuer Notes.

The following table describes certain terms of the exchange offers:

Outstanding Notes

Exchange Consideration – New DBS Notes

Mandatory Exchange Consideration – New DTV Issuer Notes

For each $1,000 Principal Amount of the Relevant Series of Outstanding Notes

CUSIP(1)

ISIN(1)

Outstanding Aggregate Principal Amount

Principal Amount and Applicable Series of New DBS Notes to be Issued

Principal Amount and Applicable Series of New DTV Issuer Notes to be Issued in the Mandatory Acquisition/Exchanges

5.25% Senior Secured Notes due 2026 (“Outstanding 2026 DBS Secured Notes”)

25470XBE4 /
U25486AQ1

US25470XBE40 /
USU25486AQ11

$2,750,000,000

$1,000 principal amount of 5.25% First Lien Notes due 2026

(“New 2026 DBS First Lien Notes”)

$930 principal amount of new 8.875% Senior Secured Notes due 2028 (the “New 2028 DTV Issuer Secured Notes”)

5.75% Senior Secured Notes due 2028 (“Outstanding 2028 DBS Secured Notes”)

25470XBF1 /
U25486AR9

US25470XBF15 /
USU25486AR93

$2,500,000,000

$1,000 principal amount of 5.75% First Lien Notes due 2028

(“New 2028 DBS First Lien Notes”)

$870 principal amount of new 8.875% Senior Secured Notes due 2031 (the “New 2031-Series A DTV Issuer Secured Notes”)

7.75% Senior Notes due 2026

(“Outstanding 2026 DBS Notes”)

25470XAY1 /
U25486AM0 /

25470XAX3

US25470XAX30 /
USU25486AM07 /
US25470XAY13

$2,000,000,000

$1,000 principal amount of 7.75% Second Lien Notes due 2026

(“New 2026 DBS Second Lien Notes”)

$790 principal amount of new 8.875% Senior Secured Notes due 2029 (the “New 2029 DTV Issuer Secured Notes”)

7.375% Senior Notes due 2028

(“Outstanding 2028 DBS Notes”)

25470XBB0 /

U25486AN8 /
25470XAZ8

US25470XAZ87 /
USU25486AN89 /
US25470XBB01

$1,000,000,000

$1,000 principal amount of 7.375% Second Lien Notes due 2028

(“New 2028 DBS Second Lien Notes”)

$680 principal amount of new 8.875% Senior Secured Notes due 2031 (the “New 2031-Series B DTV Issuer Secured Notes”)

5.125% Senior Notes due 2029

(“Outstanding 2029 DBS Notes”)

25470XBD6 /

U25486AP3 /
25470XBC8

US25470XBC83 /
USU25486AP38 /
US25470XBD66

$1,500,000,000

$1,000 principal amount of 5.125% Second Lien Notes due 2029

(“New 2029 DBS Second Lien Notes”)

$600 principal amount of new 8.875% Senior Secured Notes due 2032 (the “New 2032 DTV Issuer Secured Notes”)

(1) No representation is made as to the correctness or accuracy of the CUSIP numbers or ISINs listed herein or printed on the Outstanding Notes. They are provided solely for convenience.

Concurrently with the Exchange Offers, DBS is soliciting, on the terms and subject to the conditions set forth in the Exchange Offering Memorandum, consents from Eligible Holders of Outstanding Notes to certain proposed amendments (the “Proposed Amendments”) to the indentures, dated as of June 13, 2016, July 1, 2020, May 24, 2021 and November 26, 2021 with respect to the Outstanding Notes (as amended, supplemented or otherwise modified to the date of the Exchange Offering Memorandum, collectively, the “Outstanding Notes Indentures”), by and among DBS, the guarantors party thereto from time to time and U.S. Bank Trust Company, National Association (as successor in interest to U.S. Bank, National Association), as trustee. Each Eligible Holder of the Outstanding Notes who validly consents to the applicable Proposed Amendments by tendering Outstanding Notes and delivering a consent at or before the Expiration Time (as defined herein) will be eligible to receive the exchange consideration described in the table above and, if, on or prior to the Outside Date, the Acquisition Transaction is, or will be, consummated, then concurrently with the date of the settlement of the Mandatory Acquisition/Exchanges, the mandatory exchange consideration described above.

The Proposed Amendments will, among other things (i) eliminate substantially all of the covenants and certain events of defaults and related provisions contained in the Outstanding Notes Indentures and the Outstanding Notes, (ii) allow, in the case of the Outstanding 2026 DBS Secured Notes and Outstanding 2028 DBS Secured Notes, for certain amendments to that certain Loan and Security Agreement, dated as of November 26, 2021, between DISH Network Corporation and DBS (the “Intercompany Loan”) to provide that the consent rights thereunder would accrue only to the benefit of the holders of the New 2026 DBS First Lien Notes and New 2028 DBS First Lien Notes, (iii) release all guarantees on the Outstanding Notes, (iv) release all of the collateral securing the Outstanding 2026 DBS Secured Notes and Outstanding 2028 DBS Secured Notes and (v) permit any required reorganization or restructuring, corporate or other conversion, merger or consolidation of any subsidiaries, transfers of equity interests, and any other action necessary, in each case in connection with the reorganization and restructuring plans included as exhibits to the Purchase Agreement, as the same may be amended, supplemented, amended and restated, or otherwise modified from time to time in accordance with the terms thereof. The Proposed Amendments to each Outstanding Notes Indenture require the consents of holders of at least 66 2/3% in principal amount of such series of Outstanding Notes (excluding any Outstanding Notes held by DBS or any of its affiliates) (the “Requisite Consents”). The Proposed Amendments will be set forth in supplemental indentures to the Outstanding Notes Indentures, which with respect to each series of Outstanding Notes will be executed and delivered promptly after the Expiration Time if DBS has received the Requisite Consents thereto as of the Expiration Time and the related Outstanding Notes are accepted for exchange pursuant to the Exchange Offers.

The Exchange Offers and related consent solicitations described in the Exchange Offering Memorandum (the “Consent Solicitations”) will expire at 5:00 p.m., New York City time on October 29, 2024, or any other time to which DBS extends such Exchange Offer and Consent Solicitation in its sole discretion, subject to the terms of the Purchase Agreement (such time and date, as the same may be extended, the “Expiration Time”), unless earlier terminated. To be eligible to receive the applicable exchange consideration in the applicable Exchange Offer and Consent Solicitation, holders must validly tender and not validly withdraw their Outstanding Notes and validly deliver and not revoke their consents prior to the Expiration Time. Tenders of Outstanding Notes may be withdrawn and consents may be revoked prior to 5:00 p.m., New York City time on the date that the Minimum Series Exchange Condition (as defined below) with respect to the applicable series is satisfied, but not thereafter, subject to limited exceptions, unless such time is extended by DBS at its sole discretion (such time and date, as the same may be extended, the “Withdrawal Deadline”). Any Outstanding Notes withdrawn pursuant to the terms of the applicable Exchange Offer and Consent Solicitation shall not thereafter be considered tendered for any purpose unless and until such Outstanding Notes are again tendered pursuant to the applicable Exchange Offer and Consent Solicitation. Outstanding Notes not exchanged in the Exchange Offers and Consent Solicitations will be returned to the tendering holder at DBS’s expense promptly after the expiration or termination of the Exchange Offers and Consent Solicitations.

The relevant Exchange Offer for each series of Outstanding Notes is conditioned upon the valid tenders for exchange being received from Eligible Holders of such series of Outstanding Notes and accepted in the relevant Exchange Offer of at least 66 2/3% in aggregate principal amount of the Outstanding Notes of such series currently outstanding, excluding any such Outstanding Notes held by DBS or any of its affiliates (the “Minimum Series Exchange Condition”). In addition, the inclusion in the New DBS Notes Indentures of the Mandatory Acquisition/Exchanges feature, is conditioned upon (i) the satisfaction or waiver of the conditions described herein, including the Minimum Series Exchange Condition, with respect to all series of the Outstanding Notes and (ii) the valid tenders for exchange being received and accepted from Eligible Holders of the Outstanding Notes as would result in a Discount Amount of at least $1.568 billion ((i) and (ii) together, the “Acquisition Consent Threshold Condition”). The “Discount Amount” shall mean the aggregate amount of Principal Reduction that would be applicable to the New DBS Notes (aggregated among all such New DBS Notes) that would be issued on the Settlement Date.

A Consent Solicitation with respect to a series of Outstanding Notes will be terminated if the Requisite Consents for such series are not obtained by the Expiration Time and, in such case, the applicable Proposed Amendments for such series of Outstanding Notes will not become effective. If an Exchange Offer or the related Consent Solicitation with respect to a series of Outstanding Notes is terminated or withdrawn, the existing indenture governing such series of Outstanding Notes will remain in effect in its present form with respect to such series of Outstanding Notes.

If the Requisite Consents to the applicable Proposed Amendments are received and not revoked with respect to a series of Outstanding Notes, DBS and the trustee under the indenture governing such series of Outstanding Notes are expected to execute a supplemental indenture to such indenture providing for the Proposed Amendments (with respect to any such series of Outstanding Notes, a “Supplemental Indenture”), promptly after the Expiration Time. The Supplemental Indenture will effect the Proposed Amendments only with respect to such series of Outstanding Notes for which the applicable Requisite Consents were received and not revoked. The adoption of the Proposed Amendments with respect to any series of Outstanding Notes is not conditioned upon the consummation of any other Consent Solicitation or adoption of the Proposed Amendments in respect of any other series of Outstanding Notes or obtaining any Requisite Consent with respect to any other series of Outstanding Notes. The failure to obtain the Requisite Consents with respect to any series of Outstanding Notes will not affect the ability of DBS to enter into the Supplemental Indenture and cause the Proposed Amendments to become effective for any other series of Outstanding Notes. If an Exchange Offer or the related Consent Solicitation with respect to a series of Outstanding Notes is terminated or withdrawn, the indenture governing such series of Outstanding Notes will remain in effect in its present form with respect to such series of Outstanding Notes. However, if the Proposed Amendments for a series of Outstanding Notes become operative, holders of such series of Outstanding Notes who do not tender Outstanding Notes will be bound by the applicable Proposed Amendments, meaning that their Outstanding Notes will be governed by an indenture as amended by the applicable Supplemental Indenture.

Each of the Exchange Offers is a separate offer and/or solicitation, and each may be individually amended, extended, terminated or withdrawn, subject to certain conditions and applicable law, at any time in DBS’s sole discretion, and without amending, extending, terminating or withdrawing any other Exchange Offer. Additionally, notwithstanding any other provision of the Exchange Offers, DBS’s obligations to accept and exchange any of the Outstanding Notes validly tendered pursuant to an Exchange Offer is subject, among other things, to the satisfaction or waiver of certain conditions, as described in the Exchange Offering Memorandum, and DBS expressly reserves its right, subject to applicable law, to terminate any Exchange Offer at any time.

The Exchange Offers and Consent Solicitations are being made, and the applicable series of New Notes are being offered, only to holders of the Outstanding Notes who are either (a) persons who are reasonably believed to be “qualified institutional buyers” as defined in Rule 144A under the U.S. Securities Act of 1933, as amended (the “Securities Act”), or (b) persons other than “U.S. persons” as defined in Regulation S under the Securities Act and who are otherwise in compliance with the requirements of Regulation S; provided that, in each case, if the holder is in the European Economic Area or the United Kingdom, such holder is a qualified investor and is not a retail investor. With respect to holders in the European Economic Area, a “retail investor” means a person who is one (or more) of: (i) a “retail client” as defined in point (11) of Article 4(1) of Directive 2014/65/EU (as amended, “MiFID II”); or (ii) a “customer” within the meaning of Directive (EU) 2016/97, where that customer would not qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II; or (iii) not a “qualified investor” as defined in Regulation (EU) 2017/1129. The holders of Outstanding Notes who have certified to DBS that they are eligible to participate in the Exchange Offers and Consent Solicitations pursuant to at least one of the foregoing conditions are referred to as “Eligible Holders.” Eligible Holders may go to https://deals.is.kroll.com/DISHDBS to confirm their eligibility.

Full details of the terms and conditions of the Exchange Offers and Consent Solicitations are described in the Exchange Offering Memorandum. The Exchange Offers and Consent Solicitations are only being made pursuant to, and the information in this press release is qualified in its entirety by reference to, the Exchange Offering Memorandum, which is being sent by DBS to Eligible Holders of the Outstanding Notes. Eligible Holders of the Outstanding Notes are encouraged to read these documents, as they contain important information regarding the Exchange Offers and the Consent Solicitations.

None of EchoStar, DBS, DTV Issuer, any of their respective subsidiaries or affiliates, or any of their respective officers, boards of directors or directors, the dealer managers, the solicitation agent, the exchange agent and information agent or any trustee is making any recommendation as to whether Eligible Holders should tender any Outstanding Notes in response to the Exchange Offers or deliver any consents pursuant to the Consent Solicitations and no one has been authorized by any of them to make such a recommendation. Eligible Holders must make their own decision as to whether to tender their Outstanding Notes and deliver consents, and, if so, the principal amount of Outstanding Notes as to which action is to be taken.

The Exchange Offers and the Consent Solicitations are not being made to Eligible Holders of Outstanding Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction.

The New Notes have not been and will not be registered under the Securities Act or any state securities laws and may not be offered or sold in the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. The New Notes have not been and will not be qualified for sale to the public by prospectus under applicable Canadian securities laws and, accordingly, any issuance of New Notes in Canada will be made on a basis which is exempt from the prospectus requirements of such securities laws.

PJT Partners LP and Barclays Capital Inc. are acting as dealer managers for the Exchange Offers and Consent Solicitations. Kroll Issuer Services Limited is acting as exchange agent and information agent for the Exchange Offers and Consent Solicitations.

This press release does not constitute an offer to sell or exchange or the solicitation of an offer to buy or exchange any securities and is also not a solicitation of the related consents, nor shall there be any exchange of the New Notes for Outstanding Notes pursuant to the Exchange Offers in any jurisdiction in which such exchanges would be unlawful prior to registration or qualification under the laws of such jurisdiction.

About EchoStar Corporation

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.

Where You Can Find Additional Information

As noted above, further details regarding the terms and conditions of the Offers can be found in the Exchange Offering Memorandum. ANY ELIGIBLE HOLDER HOLDING OUTSTANDING NOTES IS URGED TO READ THE EXCHANGE OFFERING MEMORANDUM THAT HAS BEEN MADE AVAILABLE TO THEM BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT DBS, THE ACQUISITION TRANSACTION AND THE EXCHANGE OFFER.

For additional information regarding the Exchange Offers and Consent Solicitation, please contact: (i) PJT Partners LP at DISHDBS_Exchange@pjtpartners.com or (212) 364-7117 or (ii) Barclays Capital Inc. at us.lm@barclays.com or (800) 438-3242 (toll-free) or (212) 528-7581 (collect). Requests from Eligible Holders for the Exchange Offering Memorandum and other documents relating to the Exchange Offers and Consent Solicitations may be directed to Kroll Issuer Services Limited, the exchange agent and information agent for the Exchange Offers and Consent Solicitations, by sending an email to DISHDBS@is.kroll.com or by calling (855) 388-4578 (U.S. toll-free) or (646) 937-7769 (International). Eligible Holders will be required to confirm their eligibility prior to receiving the Exchange Offering Memorandum and other documents relating to the exchange offers and consent solicitations. Holders can certify eligibility on the eligibility website at: https://deals.is.kroll.com/dishdbs.

Forward-looking Statements

This document contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, including, in particular, statements about plans, objectives and strategies, growth opportunities in our industries and businesses, our expectations regarding future results, financial condition, liquidity and capital requirements, estimates regarding the impact of regulatory developments and legal proceedings, and other trends and projections. Forward-looking statements are not historical facts and may be identified by words such as “future,” “anticipate,” “intend,” “plan,” “goal,” “seek,” “believe,” “estimate,” “expect,” “predict,” “will,” “would,” “could,” “can,” “may,” and similar terms. These forward-looking statements are based on information available to us as of the date hereof and represent management’s current views and assumptions. Forward-looking statements are not guarantees of future performance, events or results and involve known and unknown risks, uncertainties and other factors, which may be beyond our control. Accordingly, actual performance, events or results could differ materially from those expressed or implied in the forward-looking statements due to a number of factors. Additional information concerning these risk factors is contained in each of EchoStar’s, DISH Network Corporation’s and DBS’s most recently filed Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q, and in EchoStar’s and DBS’s subsequent Current Reports on Form 8-K, and other Securities and Exchange Commission (“SEC”) filings, which are accessible on the SEC’s website at www.sec.gov. All cautionary statements made or referred to herein should be read as being applicable to all forward-looking statements wherever they appear. You should consider the risks and uncertainties described or referred to herein and should not place undue reliance on any forward-looking statements. The forward-looking statements speak only as of the date made. We do not undertake, and specifically disclaim, any obligation to publicly release the results of any revisions that may be made to any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Should one or more of the risks or uncertainties described herein or in any documents we file with the SEC occur, or should underlying assumptions prove incorrect, our actual results and plans could differ materially from those expressed in any forward-looking statements.

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SOURCE EchoStar Corporation

Technology

ANAB to Host Webinar on Department of Defense Cyber Workforce Qualification Program and ANAB Accreditation under DoD Directive 8140

Published

48 minutes ago

November 22, 2024

Join ANAB and Special Guests from the Department of Defense

NEW YORK, Nov. 22, 2024 /PRNewswire/ — The ANSI National Accreditation Board (ANAB) is hosting an informative webinar on the U.S. Department of Defense (DoD) Cyber Workforce Qualification Program and ANAB Accreditation under DoD Directive 8140, sharing insights into the DoD 8140 manual requirements and ANAB’s role in the accreditation process. The session will feature representatives from the DoD, who will be available for questions.

“DoD Cyber Workforce Qualification Program and ANAB Accreditation under DoD Directive 8140” will be held on December 11 from 11:30 a.m.-12:30 p.m. ET. Register via ANAB’s website.

As the manual that establishes policies and procedures for the DoD’s cyber workforce, DoD 8140 supports military service members, DoD civilians, and contractor employees performing cyber work within the scope of their assigned cyber element (IT, cyber enablers, cyber effects, cyber [intel], or cybersecurity). This informational session will provide an overview of:

DoD Directive 8140Types of Eligible ProgramsDoD Work Roles AlignmentThe DoD ProcessANABThe Difference Between Certificate and Certification ProgramsANAB Accreditation ProcessOverview of Application ProcessWebsite and Resources

The webinar will highlight information on credentialing accreditation programs that are required by the DoD, including two offered by ANAB: the Certificate Accreditation Program (ANSI/ASTM 2659 for training programs) and the Personnel Certification program (ISO/IEC 17024 for certifications).

For more information about this webinar, please contact ANAB’s Caitlin O’Connell (202.384.0184; coconnell@anab.org).

About ANAB

The ANSI National Accreditation Board (ANAB), a wholly owned subsidiary of the American National Standards Institute (ANSI), is the largest multi-disciplinary ISO/IEC 17011 accreditation body in North America, with comprehensive signatory status across the multilateral recognition arrangements of the International Accreditation Forum (IAF) and International Laboratory Accreditation Cooperation (ILAC). The ANAB accreditation portfolio includes management systems certification bodies, calibration and testing labs, product certification bodies, personnel credentialing organizations, forensic test and calibration service providers, inspection bodies, police crime units, greenhouse gas validation and verification bodies, reference material producers, and proficiency test providers. For more information, visit www.anab.org.

About ANSI

The American National Standards Institute (ANSI) is a private non-profit organization whose mission is to enhance both the global competitiveness of U.S. business and the U.S. quality of life by promoting and facilitating voluntary consensus standards and conformity assessment systems, and safeguarding their integrity. Its membership is comprised of businesses, professional societies and trade associations, standards developers, government agencies, and consumer and labor organizations.

The Institute represents and serves the diverse interests of more than 270,000 companies and organizations and 30 million professionals worldwide. ANSI is the official U.S. representative to the International Organization for Standardization (ISO) and, via the U.S. National Committee, the International Electrotechnical Commission (IEC). For more information, visit www.ansi.org and access the latest news and content on LinkedIn, X, and Facebook.

View original content to download multimedia:https://www.prnewswire.com/news-releases/anab-to-host-webinar-on-department-of-defense-cyber-workforce-qualification-program-and-anab-accreditation-under-dod-directive-8140-302314368.html

SOURCE American National Standards Institute

Technology

Pricing Software Market Skyrockets to $2,875.61 Million by 2031 Dominated by Tech Giants – Epicor Software Corp, PROS Holdings Inc and Revalize, Inc | The Insight Partners

Published

48 minutes ago

November 22, 2024

The global pricing software market is set for explosive growth, with projections indicating a surge to $2,875.61 million by 2031. This remarkable expansion, driven by increasing penetration of mobile devices and boosting the subscription base for pricing management software or platforms.

NEW YORK, Nov. 22, 2024 /PRNewswire/ — According to a new comprehensive report from The Insight Partners, the Global Pricing Software Market is observing significant growth. Business processes are becoming increasingly dependent on the cloud and advanced automation systems. Thus, rising upgrades in existing legacy pricing management and optimization software and the growing need for competitive pricing strategies are driving the pricing software market. For Detailed Market Insights, Visit: https://www.theinsightpartners.com/reports/pricing-software-market

The report runs an in-depth analysis of market trends, key players, and future opportunities. In general, the Pricing Software market comprises a vast array of wall and deck mount which are expected to register strength during the coming years.

Market Overview and Growth Trajectory:

Pricing Software Market Growth: According to an exhaustive report by The Insight Partners, the Pricing Software Market is experiencing significant growth, driven by digital transformation globally and continuous growth in manufacturing industry. The market, valued at $1,204.44 million in 2023, is expected to grow at a Compound Annual Growth Rate (CAGR) of 11.5% during 2023–2031.

For More Information and To Stay Updated on The Latest Developments in The Pricing Software Market, Download The Sample Pages: https://www.theinsightpartners.com/sample/TIPRE00013237/

Considering the current environment where inflation, consumer awareness, and the number of players are increasing, pricing has become one of the important factors as it affects the overall business and its growth. Competitive pricing strategies help companies across the globe to reduce losses and increase the profitability of the company by analyzing a variety of factors that are affecting the pricing of particular goods and services. One of the factors that allow users to understand is price elasticity and demand dynamics. Price elasticity is one of the notable factors in the business as it measures customer sensitivity toward price changes. This helps identify consumer behavior and further optimize the price accordingly. In addition, it also helps analyze the competitors’ prices across the sales channels. With this data, companies can come up with competitive prices as the competition is getting fierce and the need for competitive advantages is increasing. This competitive pricing strategy is highly beneficial in setting dynamic prices. Owing to the increased penetration of e-commerce and other online marketplaces, the trends of dynamic prices have increased. Pricing software helps the users not only identify customer behavior and competitors’ analysis but also helps in pricing management across the sales channel, which ultimately leads to increased adoption of the pricing software.

Digital Transformation globally: Digital technologies are transforming how businesses and consumers operate across the globe. Due to the COVID-19 pandemic, there was a rapid rise in the adoption of digital technologies. Digitization saved many companies during the pandemic as they adapted to remote work cultures and online operations. Developing economies such as India, China, South Africa, Brazil, and Argentina are adopting advanced digital technologies in various sectors, such as manufacturing, manufacturing, e-commerce and retail, and IT and telecom, to enhance productivity and economic growth. For instance, the Digital India initiatives launched by the Indian government improved the online infrastructure and increased internet accessibility in most of the rural areas. With these initiatives, the penetration of e-commerce and other online marketplaces increased, ultimately driving the demand and production of consumer goods. Many companies across the globe are prioritizing digital transformation over other upgrades of business processes.

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Data analytics has become a powerful tool for businesses to benefit from valuable insights and make informed decisions due to the massive amount of data generated. Data analytics is experiencing a revolution in tools, technologies, applications, and adoption. The industry is evolving rapidly, and companies are heavily investing in turning data and analytics into competitive advantage. According to most big data experts, the amount of data generated is expected to increase dramatically during the forecast period. For instance, the report from Seagate’s Data Age 2025 estimates that the amount of data generated worldwide is expected to reach 175 zettabytes by 2025. The massive increase in the number of people working from home or remote locations, studying, and spending time on the internet is driving data expansion. Such a high amount of data, when processed with the help of artificial intelligence integrated within the pricing software, is expected to provide a detailed and very insightful analysis to its end users, which will help them to optimize and manage the price.

Geographical Insights: In 2023, North America led the market with a substantial revenue share, followed by Europe and Asia Pacific. Asia Pacific is expected to register the highest CAGR during the forecast period.

Pricing Software Market Segmentation, Applications, Geographical Insights:

Based on type, the market is divided into cloud based and on-premise. The cloud segment held the largest share of the pricing software market in 2023.Based on enterprise size, the market is bifurcated into small and medium enterprises and large enterprises. The large enterprises segment held the largest share of the Pricing Software market in 2023.Based on industry vertical, the market is categorized into manufacturing, travel and hospitality, it and telecom, retail and e-commerce, food and beverages, BFSI and others. The manufacturing segment held the largest share of the pricing software market in 2023.The Pricing Software market is segmented into five major regions: North America, Europe, APAC, Middle East and Africa, and South and Central America.

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Key Players and Competitive Landscape:

The Pricing Software Market is characterized by the presence of several major players, including:

Epicor Software CorpPROS Holdings IncRevalize, IncCompetera LimitedPrice f(x) AGPrisyncWebcentric D.O.O.Zilliant IncBlackCurve Solutions LimitedSkuuudlePriceBeamFlintfoxSniffie Software Ltd.EversightMinderestWiser Solutions, Inc.ReactevPrice EdgeToptal, LLCRetalon

These companies are adopting strategies such as new product launches, joint ventures, and geographical expansion to maintain their competitive edge in the market.

Pricing Software Market Recent Developments and Innovations:

“The vision of Sniffie, a startup from Helsinki, Finland is to democratize ecommerce by enabling the equal use of machine learning in pricing for small and mid-sized ecommerce businesses. To reach this goal, Sniffie secured a total of US$2.75M seed funding.””Wiser Solutions launched the next iteration of its Commerce Execution Suite, with enhanced offerings in its Price Intelligence, Reseller Intelligence, and Retail Execution products. These improvements are made possible due to strategic partnerships in the commerce execution space and targeted investments into product and feature enhancements specific to the everyday jobs of prospects and customers.””Tech Mahindra, a leading provider of digital transformation, consulting, and business re-engineering services and solutions, announced a global strategic partnership with Retalon, a leader in retail AI and predictive analytics solutions. The partnership will enable Retail and CPG organizations to gain better customer insights, improve decision-making, and enhance operational efficiency.””In 2023, Epicor, a global leader of industry-specific enterprise software to promote business growth, announced that for the second time in a row, it has been positioned as a Leader in the Nucleus Research Configure Price Quote (CPQ) Technology Value Matrix published in November 2023. Nucleus evaluated Epicor CPQ is a comprehensive solution that streamlines the quoting process by automating configuration, pricing, and quoting. It enables businesses to handle complex product configurations efficiently, set accurate pricing based on rules, and automate the generation of professional quotes. Epicor CPQ can be used as a standalone product or integrated with the Epicor Industry ERP Cloud.””In 2024, Flintfox was named a member of the prestigious Microsoft Business Applications Inner Circle 2024/2025 for the eighth year running. The Inner Circle is one of the ways in which Microsoft recognizes its partners and is an exclusive peer-to-peer network between partners and Microsoft executives and leaders. As a member of Microsoft Business Applications Inner Circle, Flintfox has access to exclusive resources and early visibility of the Microsoft product roadmap, ensuring the circle can continue to enhance and develop the Flintfox solution in line with customers’ needs and infrastructure.”

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Pricing Software Market Drivers, Challenges, Future Outlook and Opportunities:

According to the experts, the more data is processed within the pricing software, the more accurate results can be obtained. Thus, massive data generation, increased investments in data analytic tools, and the presence of AI-integrated pricing software are expected to generate lucrative opportunities for the pricing software market.

According to Cisco, by 2024, ~75% of startups in Canada will have a digital-first strategy. Moreover, over 50% of SMEs reorganized their company structure in Canada. The rising adoption of digital technologies has increased the demand for the replacement of conventional pricing management and data collection methods. The growing preference for digital transformation is driving the pricing software market.

Based on industry, the market is segmented into manufacturing, travel and hospitality, IT and telecom, retail and e-commerce, food and beverages, BFSI, and others. The manufacturing industry registered the largest market share of 23.6% in 2023 in the pricing software market and is projected to maintain its dominance during the forecast period. In manufacturing, companies are required to migrate data while upgrading enterprise resource planning platforms. The companies are investing in building new data warehouses and advanced pricing analytics tools by moving their existing systems to the cloud platform. Cloud migration service is gaining popularity in the manufacturing sector owing to its benefits, such as cost savings, improved pricing management, high scalability, collaboration, security, productivity, and automation. Globally, the manufacturing industry is witnessing substantial growth owing to the surging investments in digitalization and price management platforms. In addition, manufacturing companies across the globe are focused on expanding their geographical presence. This is influencing the rise in the number of distributors across the globe. Additionally, owing to the increasing competition, pricing software plays an important role in the manufacturing sector, influencing companies to adopt competitive pricing strategies.

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The cloud-based segment held a larger share of the pricing software market in 2023, accounting for 72.9%. The segment is expected to account for a share of 75.2% by 2031. An on-premises deployment is an approach wherein pricing management and optimization software are implemented and used from clients’ in-house servers. These traditional solutions offer customers complete control over pricing platforms, applications, systems, and data, which can be handled and managed by their internal staff. In organizations where user credentials are critical for business operations, such as banks and insurance companies, the adoption of on-premises deployment is higher as it can control the systems from the enterprise’s physical or owned location. Further, the on-premises segment is likely to witness steady growth due to the constantly growing adoption of pricing software solutions across banks, insurance companies, and the government sectors. eZee FrontDesk offers on-premise pricing software or revenue management solutions, including hotel channel management.

Conclusion:

The integration of AI and machine learning is expected to become a key trend in the pricing software market, transforming how organizations manage and optimize prices. In the continuously changing world of business and competitive scenarios, the need for more accurate data is high. Adoption and integration of such technologies to better understand their customers and optimize strategies for increased profits. With the help of Artificial Intelligence pricing engines, companies can analyze the data at minute levels such as weather, seasonality, days of week and time, events, and holidays. This type of software goes beyond the conventional pricing analysis methods and uses advanced and modern algorithms to analyze complex patterns, customer behavior, market trends, and other related factors in real time.

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With projected growth to $2,875.61 Million by 2031, the Pricing Software Market represents a significant opportunity for component providers, system technology integrators, system manufacturers, investors, industry stakeholders, end users and others. By staying abreast of market trends, embracing innovation, and focusing on quality and performance, companies can position themselves for success in this dynamic and evolving market landscape.

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About Us:

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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Technology

Chernoff Newman Launches Test Unit, a Hybrid PR/Social/Creative Offering

Published

48 minutes ago

November 22, 2024

CHARLESTON, S.C., Nov. 22, 2024 /PRNewswire/ — Chernoff Newman, a Southeast-based integrated marketing agency, has launched Test Unit, a hybrid offering made to give small and mid-sized brands a crack at big attention.

Co-led by Peter LaMotte, president of strategic communications, and Dan Jividen, group creative director, the effort unites the agency’s deepest and oldest practices to give clients a chance to experiment with ideas built to spark earned-media interest and start conversations – with fewer hurdles and without massive spend. 

“Not every brand is Wendy’s or Liquid Death. Most don’t have the budget or bravado to take big swings right out the gate,” Jividen said. “That’s what we’re here for: to help them take nibbles before they gulp.”

The goal is to take small and mid-sized clients on culturally inspired adventures that generate ideas meant to be touched, talked about and shared. That can all be a much less intimidating proposition with seasoned communications experience baked in. “We do not put our clients’ brands at risk,” said LaMotte, who has worked with numerous international clients to build awareness and manage their reputations. “But we’ll always push to take calculated and strategic chances to better their business. If we’re not doing that, we’re not giving them our all.”

Jividen, formerly with Weber Shandwick, knows the power of those ideas and their ability to level the playing field. “No longer the domain of big brands alone, today’s media landscape is fractured and amorphous. Smaller brands may take advantage with a sizable voice,” he said. The new effort’s process carries that amorphous spirit: teams are cast and then disbanded at each project’s end, making every opportunity its own fresh ecosystem.

The agency’s long-term and trusted client relationships were the inspiration for the new offering and key to its success. “Test Unit is a reformulation of our assets and strengths,” LaMotte said. “When we bring it to clients, we’re relying on them to take a leap…and to trust us like they always have.”

About Chernoff Newman

Chernoff Newman is a fully integrated marketing communications firm specializing in sectors like agriculture, education, healthcare, and infrastructure. Core services include advertising, branding, public relations, and crisis management. Offices are in Columbia and Charleston, SC; Charlotte, NC; Orlando, FL; and Washington, DC. Learn more at chernoffnewman.com.

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SOURCE Chernoff Newman