Dream Wired
No Result
View All Result
  • Home
  • Celebrity
  • DramaAlert
  • Gossip
  • Movie
  • TV
  • Music
  • Comics
  • Shop
  • Home
  • Celebrity
  • DramaAlert
  • Gossip
  • Movie
  • TV
  • Music
  • Comics
  • Shop
No Result
View All Result
Dream Wired
No Result
View All Result
Home DramaAlert

Dish-EchoStar Reunion Draws Mixed Initial Reaction From Investors – Deadline

rmtsa by rmtsa
January 2, 2024
in DramaAlert
0
Dish-EchoStar Reunion Draws Mixed Initial Reaction From Investors – Deadline
74
SHARES
1.2k
VIEWS
Share on FacebookShare on Twitter


You might also like

Justin Trudeau Seen Vibing at Katy Perry’s Lifetimes Tour After Dinner Date

Sapphire Golf Tour Wants Black Women To Tee Up This Season

Moment Aubrey O’Day Learned About Diddy’s Arrest Caught on Reality Show Video

Shares in EchoStar were flat Tuesday morning on the first day of trading since the closing of the wireless firm’s merger with Dish Network.

The all-stock deal, announced last summer, officially closed on Sunday. Dish had been its own separate entity since being spun off by EchoStar in 2008. The reunion offers Charlie Ergen a bit more runway to try to execute his strategic turn away from pay-TV and toward wireless, though EchoStar is for now the No. 4 player in a competitive market led by Verizon and AT&T.

The 70-year-old Ergen, long known as a maverick negotiator and an outspoken critic of traditional pay-TV bundle economics, will be executive chairman of the combined company. He co-founded both companies and previously served as their chairman. Hamid Akhavan, head of EchoStar since March 2022, added the CEO duties at Dish in November. Former Dish CEO Erik Carlson exited as part of the merger.

The combined company, headquartered in Englewood, CO, will continue to operate Dish TV and Sling TV, positioning them alongside consumer and business brands like Boost Mobile, EchoStar, and the Hughes and Jupiter satellite services.

Dish had been struggling with a large debt load and a steady decrease in customers, with the pay-TV subscriber base declining by one-third over the past 10 years, settling at 8.8 million as of September 30. Last Friday, in its final day of trading on the Nasdaq, Dish stock closed at $5.77. It had plunged from its 52-week high near $16, establishing a 25-year low last November after a dismal third-quarter earnings report. Ergen at the time conceded to Wall Street analysts that the company would have to travel a “narrow path” to reach financial stability.

EchoStar shares have hovered around $16.50 today, giving the company a market value of nearly $1.4 billion.

“The completion of this merger marks an important milestone for our company and our customers, launching a new era of connectivity,” Ergen said today in a press release. “We have brought together two trailblazing companies with complementary portfolios to create a global connectivity leader with premier wireless, satellite, and video distribution capabilities. Together, EchoStar and Dish offer an enhanced consumer connectivity business and an unmatched enterprise managed services business. In a world that is increasingly wireless, we are well-positioned to drive revenue and profitable growth.”



Source link

Tags: DeadlineDishEchoStarDrawsInitialInvestorsMixedReactionReunion
Share30Tweet19
rmtsa

rmtsa

Recommended For You

Justin Trudeau Seen Vibing at Katy Perry’s Lifetimes Tour After Dinner Date

by rmtsa
July 31, 2025
0
Justin Trudeau Seen Vibing at Katy Perry’s Lifetimes Tour After Dinner Date

Katy Perry Hear Me 'Roar', Justin Trudeau! Former Canadian PM Vibing at 'Lifetimes' Concert Published July 31, 2025 4:22 AM PDT Justin Trudeau was totally vibing as he...

Read more

Sapphire Golf Tour Wants Black Women To Tee Up This Season

by rmtsa
July 31, 2025
0
Sapphire Golf Tour Wants Black Women To Tee Up This Season

by Nahlah Abdur-Rahman July 30, 2025 The tour was created by the United Golfers Association to showcase Black women players—and introduce more Black women to the game. To...

Read more

Moment Aubrey O’Day Learned About Diddy’s Arrest Caught on Reality Show Video

by rmtsa
July 31, 2025
0
Moment Aubrey O’Day Learned About Diddy’s Arrest Caught on Reality Show Video

"I never in my life thought I would see this happen," she said while breaking down in tears in candid footage shown on Wednesday's 'Botched Presents: Plastic Surgery...

Read more

‘Social Network 2’ Eyes Mikey Madison And Jeremy Allen White To Star

by rmtsa
July 31, 2025
0
‘Social Network 2’ Eyes Mikey Madison And Jeremy Allen White To Star

EXCLUSIVE: Following the news a Social Network sequel may finally be moving forward, Aaron Sorkin may already his sights set on the two rising stars to lead this...

Read more

Chilean police return $125K in luxury watches stolen from Keanu Reeves – National

by rmtsa
July 30, 2025
0
Chilean police return 5K in luxury watches stolen from Keanu Reeves – National

Chilean authorities announced Tuesday that six valuable watches stolen from Canadian actor Keanu Reeves were handed over to the U.S. Federal Bureau of Investigation (FBI), months after recovering...

Read more
Next Post
Cardi B Says She & Offset Had Sex After Celebrating NYE

Cardi B Says She & Offset Had Sex After Celebrating NYE

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Browse by Category

  • Celebrity
  • Comics
  • DramaAlert
  • Gossip
  • Movie
  • Music
  • TV
  • Uncategorized

CATEGORIES

  • Celebrity
  • Comics
  • DramaAlert
  • Gossip
  • Movie
  • Music
  • TV
  • Uncategorized
No Result
View All Result

Recent News

  • Matt Damon & Ken Jennings Win
  • Justin Trudeau Seen Vibing at Katy Perry’s Lifetimes Tour After Dinner Date
  • Who Is Nina Dobrev’s Fiancé? Shaun White’s Job & Relationship History

Copyright © 2023 DramaWired.
DramaWired is a content aggregator and not responsible for the content of external sites.

No Result
View All Result
  • Home
  • Celebrity
  • DramaAlert
  • Gossip
  • Movie
  • TV
  • Music
  • Comics
  • Shop

Copyright © 2023 DramaWired.
DramaWired is a content aggregator and not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In