The Dish Network is getting $7.5 billion in cash from Google’s $6.6 billion acquisition of the streaming video service.
The deal will help the cable and satellite TV company expand into the video-on-demand (VOD) market and help drive revenue growth.
Dish said it’s expected to pay $6 a share in cash and $4 a share of the company’s common stock in the deal.
Dish also will receive $5 million a year in stock appreciation and another $5.5 million in stock option grants, the company said.
The transaction will give Dish more than $7 million in cash for each of the next four years, according to the company.
Google’s purchase of Dish was announced earlier this month.
Dish is the second-largest U.S. cable TV provider.
It will have access to Google’s YouTube, its video-streaming app and the Google Play Movies and TV app, along with its Google Now smart home and Google Assistant technology.
Dish’s current subscriber base is about 40 million households.
The company’s shares have risen by more than 40% in the past year.
Google said it is buying Dish for $734 million in all.
Dish CEO Jim Cicconi said the acquisition will help Google become a leader in the digital TV and video space.
Dish will also have access in 2021 to Google Ventures and Google’s Google Brain.
Dish shares fell 4% in after-hours trading.