Dish Network 2015 Annual Report Download - page 55

45
We may pursue acquisitions and other strategic transactions to complement or expand our business that may not be
successful, and we may lose up to the entire value of our investment in these acquisitions and transactions.
Our future success may depend on opportunities to buy other businesses or technologies that could complement, enhance
or expand our current businesses or products or that might otherwise offer us growth opportunities. To pursue this
strategy successfully, we must identify attractive acquisition or investment opportunities and successfully complete
transactions, some of which may be large and complex. We may not be able to identify or complete attractive
acquisition or investment opportunities due to, among other things, the intense competition for these transactions. If we
are not able to identify and complete such acquisition or investment opportunities, our future results of operations and
financial condition may be adversely affected.
We may be unable to obtain in the anticipated timeframe, or at all, any regulatory approvals required to complete
proposed acquisitions and other strategic transactions. Furthermore, the conditions imposed for obtaining any necessary
approvals could delay the completion of such transactions for a significant period of time or prevent them from occurring
at all. We may not be able to complete such transactions and such transactions, if executed, pose significant risks and
could have a negative effect on our operations. Any transactions that we are able to identify and complete may involve a
number of risks, including:
x the diversion of our management’s attention from our existing businesses to integrate the operations
and personnel of the acquired or combined business or joint venture;
x possible adverse effects on our operating results during the integration process;
x a high degree of risk inherent in these transactions, which could become substantial over time, and
higher exposure to significant financial losses if the underlying ventures are not successful;
x our possible inability to achieve the intended objectives of the transaction; and
x the risks associated with complying with regulations applicable to the acquired business, which may
cause us to incur substantial expenses.
In addition, we may not be able to successfully or profitably integrate, operate, maintain and manage our newly acquired
operations or employees. We may not be able to maintain uniform standards, controls, procedures and policies, and this
may lead to operational inefficiencies. In addition, the integration process may strain our financial and managerial
controls and reporting systems and procedures.
New acquisitions, joint ventures and other transactions may require the commitment of significant capital that would
otherwise be directed to investments in our existing business. To pursue acquisitions and other strategic transactions, we
may need to raise additional capital in the future, which may not be available on acceptable terms or at all.
In addition to committing capital to complete the acquisitions, substantial capital may be required to operate the acquired
businesses following their acquisition. These acquisitions may result in significant financial losses if the intended
objectives of the transactions are not achieved. Some of the businesses acquired by us have experienced significant
operating and financial challenges in their recent history, which in some cases resulted in these businesses commencing
bankruptcy proceedings prior to our acquisition. We may acquire similar businesses in the future. There is no assurance
that we will be able to successfully address the challenges and risks encountered by these businesses following their
acquisition. If we are unable to successfully address these challenges and risks, our business, financial condition and/or
results of operations may suffer.