All articles tagged with #charlie ergen
Originally Published 6 months ago — by Investopedia
Shares of EchoStar surged 45% after reports that President Trump intervened to help the satellite TV provider retain its spectrum licenses amid FCC investigations and financial difficulties, including missed debt payments and potential bankruptcy concerns.
Originally Published 7 months ago — by Bloomberg.com
President Trump intervened to encourage EchoStar and FCC Chairman Brendan Carr to resolve a dispute over spectrum licenses, leading to a surge in EchoStar's stock and bonds. The company faces potential regulatory action and bankruptcy risks due to FCC investigations into spectrum use and obligations, with high-level meetings at the White House aiming to broker a deal.
Originally Published 2 years ago — by Yahoo Finance
Dish Network Corp. has merged with EchoStar Corp., consolidating Charlie Ergen's satellite businesses and providing Dish with additional resources to expand its 5G network and transition from its declining pay-TV model. The merger, which closed on December 31, allows Dish to access EchoStar's cash reserves and free cash flow, aiding in the build-out of its wireless services and addressing its significant debt obligations. Despite the merger, Dish faces challenges in competing with established wireless carriers. The deal passed with minimal federal scrutiny as both companies were already under Ergen's leadership.
Originally Published 2 years ago — by CNBC
Billionaire Charlie Ergen is merging his satellite and broadband services companies, Dish Network and EchoStar, in an all-stock deal to expand his telecom empire. The merger reunites two businesses that have been separate for about 15 years and aims to build a long-term sustainable business. Dish is looking to expand beyond satellite TV into the mobile telecom market, while EchoStar focuses on satellite communications. The deal will exchange 2.85 shares of Dish common stock for each share of EchoStar stock, with EchoStar shareholders receiving a 12.9% premium. Dish's 5G network now covers over 70% of the US.
Originally Published 2 years ago — by The Wall Street Journal
Billionaire Charlie Ergen is close to finalizing a deal to merge his major holdings, Dish Network and EchoStar, in order to strengthen his position and create a nationwide wireless network capable of competing with AT&T and Verizon.