Not the first time, merger reports between North America’s two DTH operators have emerged, but a Bloomberg report states that Charlie Ergen’s DISH Network (now part of his EchoStar business) is very open to merging with AT&T’s DirecTV. Shares of Dish Network rose 6.3 per cent on March 22nd while AT&T stock went up 1.9 […]
A report on EchoStar from analysts at Bond research specialist, Gimme Credit, looks at the newly-merged operation (with EchoStar absorbing DISH Network) and is blunt saying they expect the company to continue losing subscribers during 2024, which would lead to a decrease in revenue of around 6 per cent. The report expects EchoStar to be […]
EchoStar – already facing complaints from some shareholders over how owner Charlie Ergen restructured the DISH Network broadcasting business into a new operation – is facing another major legal hurdle which, this time, is the US Senate. Investment fund manager Buxton Helmsley Grp (BHG), which has holdings in EchoStar, has written to US Senators Elizabeth […]
Dish Network’s head of retail cellular and an EVP at the company, Michael Kelly, has resigned after less than a year in position. Dish, now a subsidiary of EchoStar, said in a statement that Kelly had resigned and that CEO Hamid Akhavan would run the division and lead strategy and key day-to-day operations for the […]
EchoStar’s highly contentious plans to raise cash by issuing and restructuring its debts, which received significant objections from creditors, has been abandoned. It is the second time in two weeks that Dish Network’s parent EchoStar has scrapped a controversial proposal to restructure debt after creditor backlash. The satellite TV provider announced on February 12th the […]
EchoStar, which now includes most of the former Dish Network assets, has scrapped one of its controversial debt swap proposals. Dish, says EchoStar, “in its sole discretion” had decided to abandon the plan. EchoStar has confirmed that its Dish subsidiary has ended an offer announced two weeks ago to swap more than $6 billion (€5.5bn) […]
More detail has emerged on the news that a number of Dish Network creditors have written to the company alleging that the Charlie Ergen-backed pay-TV broadcaster engaged in an “illegal” restructuring when it – in effect – merged with EchoStar. They are demanding that the merger be reversed. This is unlikely to happen so the […]
Having already announced in November 2023 that 499 staff would be let go, newly merged EchoStar is laying off another 157 workers. The staff will be paid until March, said a company announcement. Dish Network and EchoStar, both based in suburbs of Denver, Colorado, merged on December 31st 2023. The news was filed to local […]
Charlie Ergen’s EchoStar is reportedly looking to swap around $4.9 billion (€4.4bn) of debt for new bonds that will be backed by the company’s extensive portfolio of 5G wireless spectrum. The plan was announced after the market closed on January 12th and in essence said that holders of existing convertible debt – already significantly downgraded […]
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 […]