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EchoStar Completes New StarBand Investment

9/28/2001 09:12:00 AM Eastern

Littleton, Colo. - EchoStar completed its additional $50 million investment in StarBand, first announced in July.

As a result, EchoStar garners a 32 percent equity stake in the two-way satellite Internet service provider. That position is slated to increase to about 60 percent once construction begins on a next-generation satellite earmarked for StarBand use.

EchoStar initially invested $50 million in StarBand in April 2000. By incorporating StarBand service into its offerings, EchoStar can bundle TV, broadband Internet and interactive TV services into a package for DISH subscribers.

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