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In early 2015, Charles Ergen was the richest person in Colorado and the 24th richest in the United States. Some 14 million households got their TV from his Dish Network, which had recently hit an all-time high market capitalization of nearly $37 billion.
The Federal Communications Commission (FCC) said on Thursday it approved a merger between Dish Network and satellite operator EchoStar, reuniting billionaire Charlie Ergen's telecom empire to tackle growing competition from larger U.S. carriers.
Hamid Akhavan, the chief executive and president of EchoStar Corp. SATS, -1.09%, has joined Dish Network Corp. DISH, to serve as that company's CEO and president as well, according to a Monday morning release. The two companies are merging, and they said at the time of the merger announcement that Akhavan would assume the CEO position for the combined entity.
Hundreds of U.S. companies have slashed their workforces this year, including Amazon, Google, Meta and Disney.
DISH Network's (DISH) third-quarter 2023 results reflect declining subscriber bases of DISH TV and SLING TV.
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With its shares in free fall after a dismal third-quarter earnings report, Dish Network executives faced the music with Wall Street, conceding in an earnings call that they face an array of intensifying challenges.
Dish posted a wide loss on the bottom line. The company announced the resignation of its CEO in preparation for its merger with EchoStar.
DISH Network (DISH) shares crashed Monday to their lowest level in a quarter century after the satellite TV provider posted worse-than-expected results as it lost subscribers.