Dish Network 2014 Annual Report Download - page 57

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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:
 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;
 possible adverse effects on our operating results during the integration process;
 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;
 our possible inability to achieve the intended objectives of the transaction; and
 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 businesses. 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.
We may need additional capital, which may not be available on acceptable terms or at all, to continue investing
in our businesses and to finance acquisitions and other strategic transactions.
We may need to raise significant additional capital in the future, which may not be available on acceptable terms or
at all, to among other things, continue investing in our businesses, construct and launch new satellites, and to
pursue acquisitions and other strategic transactions. Weakness in the equity markets could make it difficult for us
to raise equity financing without incurring substantial dilution to our existing shareholders. In addition, economic
weakness or weak results of operations may limit our ability to generate sufficient internal cash to fund
investments, capital expenditures, acquisitions and other strategic transactions, as well as to fund ongoing
operations and service our debt. As a result, these conditions make it difficult for us to accurately forecast and plan
future business activities because we may not have access to funding sources necessary for us to pursue organic and
strategic business development opportunities.
See “We have made substantial investments to acquire certain wireless spectrum licenses and other related assets.
In addition, we have made substantial non-controlling investments in the Northstar Entities and the SNR Entities
related to the AWS-3 Auction” above for more information.