Faced with a choice between investing more in its new wireless business, which needs additional capital and time to catch on with consumers, or holding onto its legacy satellite and streaming television services, which generate cash but are shrinking, Englewood-based EchoStar Corp. has decided to go all in on wireless. Long-time rival DirecTV on Monday said it will pay $1 and assume $9.75 billion in EchoStar debt to acquire Dish Network and its Sling TV streaming service.

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BING NEWS:
  • DirecTV may pull plug on purchase of Dish Network
    A failure to sell Dish would complicate EchoStar’s plans to pour more capital into the development of its 5G network, which it needs to complete so it isn’t as dependent on the AT&T and T-Mobile ...
    11/16/2024 - 11:00 am | View Link
  • DirecTV may pull the plug on purchase of Colorado-based Dish Network
    DirecTV’s purchase of EchoStar’s subscription television business could collapse unless bondholders agree to accept a discount within the next week. But even if they don’t, EchoStar reassured ...
    11/14/2024 - 11:00 pm | View Link
  • EchoStar Stock Plunges After Dish Network Debt Holders Spurn Bond Deal Seen As Key To DirecTV Merger
    EchoStar stock plunged 13% Tuesday on the news that bondholders of subsidiary Dish Network rejected a proposed debt deal seen as key to sealing a merger with satellite rival DirecTV. Shares fell to ...
    11/13/2024 - 2:21 am | View Link
  • EchoStar Posts Loss of Dish, Gain of Sling TV Subs in Third Quarter, Raises $5.2B in Fresh Capital
    The telecom giant, led by CEO Hamid Akhavan and executive chairman Charlie Ergen, has agreed to be acquired by DirecTV to firm a new pay-TV giant.
    11/12/2024 - 6:54 am | View Link
  • EchoStar Sheds 43,000 Pay TV Subscribers, Adds 145,000 Sling TV Subscriptions in Q3
    The Dish parent has entered into an agreement to sell the satellite TV giant to rival DirecTV in a deal for $1 and $9.75 billion in debt ...
    11/12/2024 - 5:02 am | View Link
  • More

 

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