Dish Network 2015 Annual Report Download - page 9

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x To the extent that we commercialize our wireless spectrum licenses, we will face certain risks entering and
competing in the wireless services industry and operating a wireless services business.
x 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.
x We may need additional capital, which may not be available on acceptable terms or at all, to continue investing
in our business and to finance acquisitions and other strategic transactions.
x From time to time a portion of our investment portfolio may be invested in securities that have limited liquidity
and may not be immediately accessible to support our financing needs, including investments in public
companies that are highly speculative and have experienced and continue to experience volatility.
x We have substantial debt outstanding and may incur additional debt.
x It may be difficult for a third party to acquire us, even if doing so may be beneficial to our shareholders,
because of our ownership structure.
x We are controlled by one principal stockholder who is also our Chairman and Chief Executive Officer.
Legal and Regulatory Risks
x A ruling in the Do Not Call litigation requiring us to pay substantial civil penalties and/or damages and/or
enjoining us, whether acting directly or indirectly through authorized telemarketers or independent third-party
retailers, from certain activities could have a material adverse effect on our results of operations, financial
condition and cash flow.
x Our business depends on certain intellectual property rights and on not infringing the intellectual property rights
of others.
x We are party to various lawsuits which, if adversely decided, could have a significant adverse impact on our
business, particularly lawsuits regarding intellectual property.
x Our ability to distribute video content via the Internet, including our Sling TV services, involves regulatory risk.
x Changes in the Cable Act of 1992 (“Cable Act”), and/or the rules of the Federal Communications Commission
(“FCC”) that implement the Cable Act, may limit our ability to access programming from cable-affiliated
programmers at nondiscriminatory rates.
x The injunction against our retransmission of distant networks, which is currently waived, may be reinstated.
x We are subject to significant regulatory oversight, and changes in applicable regulatory requirements, including
any adoption or modification of laws or regulations relating to the Internet, could adversely affect our business.
x Our business depends on FCC licenses that can expire or be revoked or modified and applications for FCC
licenses that may not be granted.
x We are subject to digital high-definition (“HD”) “carry-one, carry-all” requirements that cause capacity
constraints.
x Our business, investor confidence in our financial results and stock price may be adversely affected if our
internal controls are not effective.