twice connect
careers

EchoStar Boosts Share In StarBand

7/23/2001 02:00:00 AM Eastern

EchoStar increased its equity stake in satellite broadband provider StarBand Communications to 32 percent and has plans to own a majority position in the company.

EchoStar, parent company of the DISH Network, paid $50 million in cash for its augmented position and will take a 60 percent share when StarBand begins construction of its next generation satellite.

Gilat Satellite Networks is also involved in the deal by providing EchoStar with proprietary satellite design technology for the upcoming spacecraft, which will serve the consumer segment of the two-way satellite-delivered broadband market.

"EchoStar's financial commitment, together with the recently released StarBand Model 360 satellite modem, will allow us to build on our momentum," said Zur Feldman, StarBand's CEO. The Model 360 is StarBand's third generation satellite modem.

With this deal finalized, EchoStar will control four of the seven seats on StarBand's board of directors with Gilat having the remaining three.

PHOTOS
ProSource Meeting Filled With Optimism

San Antonio — Optimism reigned at ProSource’s

Ingram Draws 500 To Spring Vendor Expo

Scottsdale, Ariz. — Ingram Micro Consumer

CEA Holds ’14 Digital Patriots Dinner

Washington — CEA held its annual Digital Patriots’

8 Technology Accessories For a Greener Earth

An Earth Day review of Earth-friendly products, by

BrandSource Shows Diverse Product Selection

BrandSource’s Summit show at the Marriott World

Scenes From Toy Fair

By Lisa Johnston

ADL Honors Morales, Bilas, Paull, Weedfald At Annual Dinner

New York — The Anti-Defamation League’s National