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☆ DirecTV said it plans to abandon its Dish merger
▼ + stars: | 2024-11-13 | by ( ) edition.cnn.com time to read: +1 min

Reuters —Satellite TV provider DirecTV said on Tuesday it will abandon its planned acquisition of EchoStar’s satellite television business that includes Dish TV by Nov. 22 if bondholders don’t agree to a debt exchange. “A successful exchange was a condition for acquiring the Dish video business,” a DirecTV spokesperson told Reuters in an emailed statement. “Given the outcome of the EchoStar exchange, DirecTV will have no choice but to terminate the acquisition of Dish by midnight on Nov. 22.”EchoStar and Dish did not immediately respond to Reuters requests for comment. As part of the two-step transaction, DirecTV was to pay $1 to buy the pay TV business called Dish DBS that includes Dish and Sling TV, while agreeing to assume about $9.75 billion of Dish’s debt. Dish and DirecTV launched an exchange offer at a discounted rate for the debt to help extend the maturities.

Persons: “, ”, Charlie Ergen Organizations: Reuters — Satellite, DirecTV, Dish, Reuters, DBS

☆ EchoStar's Dish sale marks disappointing end to Charlie Ergen's 'Seinfeld' strategy
▼ + stars: | 2024-09-30 | by ( Alex Sherman | In Alex-Sherman | ) www.cnbc.com time to read: +2 min

Dish's "Seinfeld" strategy appears to have ended quite like the actual show — with its finale a generally-accepted disappointment. In 2011, Dish cofounder Charlie Ergen first mentioned "Seinfeld" on an earnings call, responding to an analyst's question about his company's mixed bag of assets. When Dish and DirecTV discussed merging in 2014, DirecTV's market capitalization was about $40 billion, and Dish's market valuation was more than $28 billion. DirecTV sold a year later to AT&T for $49 billion in equity value. EchoStar was motivated to move Dish and its debt off its balance as a $2 billion debt payment matures in November, CNBC reported last week.

Persons: Charlie Ergen, Ergen, EchoStar, Hamid Akhavan Organizations: DirecTV, Comcast, Dish, Times, CNBC

New York CNN —DirecTV announced Monday it’s buying rival Dish Network, ending multiple decades of on-and-off talks about the satellite services merging. The agreement provides DirecTV and Dish with greater scale, a DirecTV spokesperson told CNN. The newly merged DirecTV-Dish entity will continue to support the Dish brand for the foreseeable future, the DirecTV spokesperson said. DirecTV does not currently have plans to make changes to the existing Dish or Sling TV brands, meaning that current Dish customers should not be concerned about being forced over to DirecTV. The deal also strengthens the duo’s foothold in the industry, allowing them to more easily compete with pay TV rivals and streaming services.

Persons: Charlie Ergen, Mike White, Echostar, Hughes, ’ Organizations: New, New York CNN, DirecTV, Dish Network, Netflix, Hulu, Amazon’s, Dish, ”, TPG, T, CNN, Disney, Hughes Electronics, EchoStar Corporation, Bloomberg, General Motors, Monday, Antitrust Locations: New York

☆ EchoStar nears deal to sell Dish to DirecTV with $2 billion debt payment looming
▼ + stars: | 2024-09-27 | by ( Alex Sherman | In Alex-Sherman | ) www.cnbc.com time to read: +4 min

The combination of Dish and DirecTV has been rumored for years and nearly happened in 2002 until it collapsed under regulatory pressure. The prospect of a future EchoStar bankruptcy and deal approval from creditors make the completion of a deal complicated. EchoStar has a total enterprise value of about $31 billion and a market capitalization of about $7.6 billion. Dish ended its last quarter with 6.1 million satellite subscribers and 2 million customers for Sling TV, Dish's over-the-internet package of linear networks. DirecTV has also felt the pain, losing millions of subscribers since AT&T bought the company in 2015 for $67 billion with debt.

Persons: Charlie Ergen, EchoStar, MoffettNathanson's Craig Moffett, — CNBC's Lillian Rizzo Organizations: Dish Network, DirecTV, TPG, AT, Dish, Satellite, Netflix, Disney, Amazon Prime, Sling, T, CNBC, ESPN

☆ Billionaire Charlie Ergen merging Dish and EchoStar to expand mobile and satellite telecom empire
▼ + stars: | 2023-08-08 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +1 min

Billionaire Charlie Ergen is consolidating his telecom empire, merging his satellite and broadband services companies Dish Network and EchoStar in an all-stock deal. "This is a strategically and financially compelling combination that is all about growth and building a long-term sustainable business," Ergen, chairman of both Dish and EchoStar, said in a statement. The deal reunites two businesses that have been separate for about 15 years, as Ergen spun EchoStar out of Dish in 2008. The merger will exchange 2.85 shares of Dish common stock for each share of EchoStar stock, a 12.9% premium for EchoStar shareholders as of the July 5 trading close. EchoStar CEO Hamid Akhavan will continue on as part of the combined company, as President and CEO.

Persons: Charlie Ergen, Ergen, EchoStar, Hamid Akhavan, Erik Carlson, Akhavan, CNBC's David Faber Organizations: Dish Network

☆ Billionaire Charlie Ergen on merging Dish and EchoStar to expand mobile and satellite telecom empire
▼ + stars: | 2023-08-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBillionaire Charlie Ergen on merging Dish and EchoStar to expand mobile and satellite telecom empireDish and EchoStar chairman Charlie Ergen, and EchoStar CEO Hamid Akhavan join 'Squawk on the Street' to discuss Ergen's decision to merge Dish and EchoStar, how much the company will need to build out its wireless business, and more.

Persons: Charlie Ergen, Hamid Akhavan

☆ Watch CNBC's full interview with Dish's Charlie Ergen and EchoStar's Hamid Akhavan
▼ + stars: | 2023-08-08 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Dish's Charlie Ergen and EchoStar's Hamid AkhavanDish and EchoStar chairman Charlie Ergen, and EchoStar CEO Hamid Akhavan join 'Squawk on the Street' to discuss Ergen's decision to merge Dish and EchoStar, how much the company will need to build out its wireless business, and more.

Persons: Dish's Charlie Ergen, EchoStar's Hamid, Charlie Ergen, Hamid Akhavan

☆ Satellite reunion creates a bit of breathing space
▼ + stars: | 2023-08-08 | by ( ) www.reuters.com time to read: +2 min

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

☆ Stocks making the biggest moves midday: Beyond Meat, Chegg, PNC Financial, Dish & more
▼ + stars: | 2023-08-08 | by ( Pia Singh | ) www.cnbc.com time to read: +4 min

The health care company reported earnings per share of $1.31. Organon posted $1.61 billion in revenue, beating analysts' expectations of $1.57 billion. Beyond Meat — The plant-based meat company fell 16% during midday trading after missing on second-quarter revenue, citing weak U.S. demand. The fragrance and cosmetics company reported revenue of $2.93 billion, falling shorter than analysts' estimates of $3.07 billion, according to StreetAccount. See Corp. — Shares of the packaging company lost 7% after See missed revenue expectations for the second quarter.

Persons: Moody's, Goldman Sachs, JPMorgan Chase, Organon, StreetAccount, Chegg, Charlie Ergen, EchoStar, Eli Lilly —, Eli Lilly, Palantir, —, Samantha Subin, Jesse Pound, Alex Harring, Hakyung Kim Organizations: PNC Financial, Citizens, T Bank —, T Bank, Webster, PNC, JPMorgan, Nordisk —, Technologies, Refinitiv . Fox Corp, Corp, —

☆ Stocks making the biggest moves premarket: UPS, Lucid, Beyond Meat, Novo Nordisk and more
▼ + stars: | 2023-08-08 | by ( Brian Evans | ) www.cnbc.com time to read: +4 min

The company reported an adjusted $2.11 per share on revenue of $8.31 billion, while analysts polled by Refinitiv forecasted $1.98 and $7.58 billion. Analysts surveyed by Refinitiv had penciled in a loss of 33 cents per share on $175 million of revenue. Palantir Technologies — Palantir Technologies slid 3.4% after the data analytics company reported its second-quarter results. Beyond Meat reported an adjusted loss of 83 cents per share on $102.1 million in revenue, while Refinitiv forecasted 86 cents and $108.4 million. Paramount Global — The media conglomerate's shares climbed more than 2% in premarket trading after the company reported a quarterly earnings and revenue beat.

Persons: Goldman Sachs, NASH, Banks, Moody's, Eli Lilly, EchoStar, Charlie Ergen, Refinitiv, Lucid, Palantir, Hims, Simon & Schuster, Yun Li, Samantha Subin, Sarah Min, Pia Singh, Jesse Pound Organizations: Sagimet, Goldman, T Bank, Citizens Financial, Bank of New York Mellon, Truist, JPMorgan Chase, Telsey, Refinitiv, Novo Nordisk —, Dish, United Parcel Service, behemoth, UPS, Palantir, Paramount Global, Paramount, KKR Locations: New York, Banks —

☆ Charlie Ergen Nears Deal to Merge Dish, EchoStar
▼ + stars: | 2023-08-07 | by ( Lauren Thomas | Drew Fitzgerald | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones

☆ Dish Network enters dangerous financial orbit
▼ + stars: | 2023-07-31 | by ( Robert Cyran | ) www.reuters.com time to read: +3 min

Billionaire Charlie Ergen staked Dish Network’s (DISH.O) future on wireless spectrum, a decision looking worse by the day. The satellite operator has spent some $25 billion since 2008 acquiring the finite resource used to carry data. In January, Dish issued $1.5 billion of senior notes, secured by spectrum, with an 11.75% coupon. The satellite operator said on July 17 that its 5G network covered nearly three-quarters of the U.S. population. Dish must meet additional thresholds in 2025 or it could face up to $2.2 billion in fines and might be forced to forfeit wireless spectrum.

Persons: Charlie Ergen, Morgan Stanley, Semafor, Jeffrey Goldfarb, Sharon Lam Organizations: YORK, Reuters, Dish, New, Research, Dish Network, Amazon.com, U.S . Federal Communications Commission, Thomson Locations: EBITDA

☆ Dish's Charlie Ergen looks to merge Dish and EchoStar, Semafor reports
▼ + stars: | 2023-07-06 | by ( ) www.reuters.com time to read: +1 min

[1/2] Dish Network Chairman Charlie Ergen attends the Google's annual developers conference in San Francisco, California May 20, 2010. REUTERS/Robert Galbraith/File PhotoJuly 6 (Reuters) - Dish Network (DISH.O) Chairman Charlie Ergen is considering merging the two halves of his telecom empire, Dish and EchoStar (SATS.O), news publication Semafor reported on Thursday, citing people familiar with the matter. Dish and EchoStar did not immediately respond to Reuters' requests for comments. Dish's shares were 5% lower in afternoon trade while EchoStar's stock was down 3.4% amid weaker broader market. In 2008, EchoStar Communications, which was founded by Ergen as a satellite television equipment distributor in 1980, changed its name to Dish Network and spun off its technology arm as a new company named EchoStar Corp.

Persons: Charlie Ergen, Robert Galbraith, Yuvraj Malik, Sriraj Organizations: Dish, REUTERS, EchoStar Communications, Ergen, Dish Network, EchoStar Corp, Thomson Locations: San Francisco , California, Bengaluru

☆ Dish Network chairman-backed SPAC in talks to buy wireless business unit
▼ + stars: | 2022-10-13 | by ( ) www.reuters.com time to read: +1 min

Oct 12 (Reuters) - Blank-check firm CONX Corp (CONX.O), backed by Dish Network Corp (DISH.O) Chairman Charles Ergen, said on Wednesday it has begun preliminary discussions to acquire Dish's retail wireless unit, Boost Mobile. Dish confirmed that it was in preliminary talks with CONX. Dish acquired Boost Mobile in 2020 as part of the T-Mobile (TMUS.O) and Sprint merger after the companies agreed to divest some assets including some wireless spectrum to create a new wireless competitor. read moreCONX also asked its stockholders to vote in favor of a proposal to extend the date by which it must complete a business combination with Boost Mobile from Nov. 3, 2022 to June 3, 2023. A special meeting of its stockholders will be held on Oct. 31, it added.

☆ Stocks making the biggest moves premarket: Delta, Walgreens, Applied Materials and others
▼ + stars: | 2022-10-13 | by ( Peter Schacknow | ) www.cnbc.com time to read: +2 min

Walgreens (WBA) – Walgreens rallied 6.8% in the premarket after the drugstore operator reported better-than-expected quarterly profit and revenue. Applied Materials (AMAT) – Applied Materials lowered its current-quarter revenue outlook, with the chip manufacturing equipment maker saying it would be negatively impacted by new U.S. regulations restricting exports to China. Applied Materials lost 2% in premarket action. Digital World Acquisition (DWAC) – Digital World Acquisition surged 11.2% in the premarket after Google approved Truth Social – the social media platform backed by former President Donald Trump – for inclusion in its app store. Dish Network (DISH) – Dish gained 1% in premarket action after blank-check firm CONX Corp. said it was in talks to buy Dish's retail wireless unit Boost Mobile.

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