Dish Network, EchoStar merger wraps
January 2, 2024
By Chris Forrester
Nasdaq has received a Delisting Notice saying that US pay-TV operator Dish Network is no longer trading in terms of its shares, effective December 29th 2023.
Dish, along with its ‘sister’ company EchoStar, both majority controlled by founder Charlie Ergen, are in the process of merging and the actual merger was expected to happen on December 31st and ahead of formal trading opening today [January 2nd].
As the merger wraps, existing Dish shareholders will own about 69 per cent of the common stock of the combined company, while existing EchoStar stockholders will own the remaining (about) 31 per cent.