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DISH Network Corp DISH
Q4 2012 Earnings Call Transcript

Transcript Call Date 02/20/2013

Operator: Good afternoon. My name is Tracy and I will be your conference operator today. At this time, I would like to welcome everyone to the DISH Network Corporation Q4 2012 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks there will be a question-and-answer session. Thank you.

I would now like to turn the call over to Mr. Jason Kiser, VP Treasurer. You may begin your conference.

Jason Kiser - IR: Thanks Tracy. Thanks for joining us. My name is Jason Kiser and I'm the Treasurer here at DISH Network. I'm joined today by Charlie Ergen, our Chairman; Joe Clayton, our CEO; Bernie Han, our COO; Robert Olson, our CFO; Paul Orban, our Controller; and Stanton Dodge our General Counsel.

Both Joe and Robert have some prepared remarks that they would like to go through before we open it up for Q&A and then following the analyst portion of the call we're also going to invite the press to ask some questions as well.

Before we do all that we do need to do our Safe Harbor disclosures so for that we'll turn it over to Stan.

R. Stanton Dodge - EVP, General Counsel and Secretary: Thanks Jason. Guests and media representatives not identified participants or their firms in your reports. We also do not allow audio taping and ask that you respect that.

All statements we make during this call that are not statements of historical facts constitute forward-looking statements, which involve known and unknown risks, uncertainties, and other factors that could cause our actual results to be materially different from historical results and from any future results expressed or implied by such forward-looking statements. For a list of those factors, please refer to the front of our 10-K.

All cautionary statements that we make during this call should be understood as being applicable to any forward-looking statements we make wherever they appear. You should carefully consider the risks described in our reports and should not place undue reliance on any forward-looking statements, which we assume no responsibility for updating.

With that out of the way, I'll turn it over to Joe.

Joseph P. Clayton - President and CEO, DISH Network: Thanks, Stanton and good afternoon to those of you on the East Coast and good morning to our West Coast participants. We at DISH continue to invest in our portfolio of assets that will serve as the foundation for our long-term growth. First and foremost on everyone's today is our wireless spectrum investments. We were pleased to have some clarity on our S-Band spectrum as a result of the FCC's recent rule-making process. (Russ Charlie) is here to take your questions on wireless a little later.

Next let me give you our own update on Blockbuster. First, we're shutting down 300 unprofitable domestic stores in the next few months. This will leave us with approximately 500 stores and we'll continue to evaluate these over the coming months. Going forward, we'll focus on maximizing value from this brand and monetizing the non-strategic assets.

So at DISH today, it is clear that we embrace change. We embrace technology and most importantly we embrace the consumer. We're using innovation to make consumers' viewing experience easier and simpler. That is why unlike many content providers and broadcasters, we're willing to take risk and to make changes to our existing technology and business model. To win in a sea of sameness which is nature of today's pay-TV market, we must distinctively differentiate our products and service, and this is what DISH has been doing over the last year, all with an eye on what the consumer is willing to pay.

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