Dish Network Chairman Charlie Ergen speaks during Google's annual developers conference in San Francisco, California May 20, 2010.
Dish Network Corp, the No.
Some 15 years after the 70-year-old billionaire initially cleaved his satellite empire, he unveiled an all-stock deal Tuesday to reunite Dish Network (DISH.O), the $4.5 billion pay-TV operator, with the smaller EchoStar (SATS.O) infrastructure business.
Dish shareholders, who will own 69% of the enlarged entity, are issuing stock at a rock-bottom price for the privilege.
If nothing else, though, the modest 13% premium they’re offering to EchoStar shareholders buys some valuable time.
Persons:
Charlie Ergen, It’s, Jeffrey Goldfarb, Peter Thal Larsen, Sharon Lam
Organizations:
Dish, Dish Network Corp, Sprint Nextel Corp, Reuters, Nasdaq, Twitter, Siemens, Thomson
Locations:
San Francisco , California