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In a highly anticipated announcement, earlier this week DirecTV announced they were acquiring Echostar's Video Distribution business including Dish TV and Sling TV. Although no financial terms were disclosed, there have been reports DirecTV acquired Dish/Sling for $1.00 and assumed Echostar's $9.75 billion debt.
AT&T will sell to private equity firm TPG its remaining 70% stake in DirecTV, which will merge with rival Dish Network.
Per a Bloomberg report, SATS' subsidiary DISH TV is reportedly in talks for a potential merger with AT&T's DirecTV.
Shares of troubled Dish Network parent EchoStar have fallen sharply Monday in the wake of a downbeat second-quarter earnings report, with chatter continuing about a potential bankruptcy filing. The stock was off 10% at mid-day, trading at around $15.
Rural households now have the most advanced technological solution for home TV and internet services Customers are the ultimate winner in combined Echostar synergies ENGELWOOD, Colo., May 16, 2024 /PRNewswire/ -- DISH Network and Hughes Network Systems, both EchoStar companies (Nasdaq: SATS), today announced a new bundled service offering that brings the power of DISH satellite TV together with Hughesnet® satellite internet to create a superior solution in TV and internet for rural America.
Shares in Dish Network parent EchoStar have fallen more than 11% after the company's lackluster first-quarter earnings report and growing uneasiness about the company's financial state.
The singular voice of Charlie Ergen, long an outspoken figure willing to voice unconventional views on the media business, fell silent Friday as he was absent for EchoStar's quarterly earnings call. The Dish Network parent, of which Ergen is executive chairman, reported a loss of 314,000 Dish subscribers in the quarter, leaving it with 8.
Satellite network operator EchoStar Co. NASDAQ: SATS completed its merger with broadband and pay-tv services provider DISH Network Co. NASDAQ: DISH on December 31, 2023. Together, they formed the EchoStar-DISH network, a communication services sector company focused on providing global connectivity solutions.
The general stock market is concluding 2023 on a positive note, propelled by specific equities that have spearheaded an end-of-year rally. Significantly, these gains have enabled several stocks to recover from losses incurred in 2022.
The final trades of the day with the 'Fast Money' traders.