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i
DISCLOSURE REGARDING FORWARD-LOOKING STATEMENTS
This Annual Report on Form 10-K contains “forward-looking statements” within the meaning of the Private Securities
Litigation Reform Act of 1995, including, in particular, statements about our plans, objectives and strategies, growth
opportunities in our industries and businesses, our expectations regarding future results, financial condition, liquidity and
capital requirements, our 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 of this Annual Report on Form 10-K 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,
including, but not limited to, the following:
Competition and Economic Risks
x We face intense and increasing competition from satellite television providers, cable companies and
telecommunications companies, especially as the pay-TV industry has matured and bundled offers have become
more prevalent, which may require us to further increase subscriber acquisition and retention spending or accept
lower subscriber activations and higher subscriber churn.
x Changing consumer behavior and competition from digital media companies that provide or facilitate the
delivery of video content via the Internet may reduce our gross new subscriber activations and may cause our
subscribers to purchase fewer services from us or to cancel our services altogether, resulting in less revenue to
us.
x Economic weakness and uncertainty may adversely affect our ability to grow or maintain our business.
x Our competitors may be able to leverage their relationships with programmers to reduce their programming
costs and offer exclusive content that will place them at a competitive advantage to us.
x Our over-the-top (“OTT”) Sling TV Internet-based services face certain risks, including, among others,
significant competition.
x We face increasing competition from other distributors of unique programming services such as foreign
language and sports programming that may limit our ability to maintain subscribers that desire these unique
programming services.
Operational and Service Delivery Risks
x If we do not continue improving our operational performance and customer satisfaction, our gross new
subscriber activations may decrease and our subscriber churn may increase.
x If our gross new subscriber activations decrease, or if our subscriber churn, subscriber acquisition costs or
retention costs increase, our financial performance will be adversely affected.
x Programming expenses are increasing and could adversely affect our future financial condition and results of
operations.
x We depend on others to provide the programming that we offer to our subscribers and, if we fail to obtain or
lose access to this programming, our gross new subscriber activations may decline and our subscriber churn
may increase.
x We may not be able to obtain necessary retransmission consent agreements at acceptable rates, or at all, from
local network stations.