Dish Network Still in Ma Bells Sight

Dish Network may be even more in sight of telco provider AT&T, reports Barrons. Thanks to a sharp drop in EchoStar’s share price last week, AT&T is reportedly closer to assembling a bid to buy the satellite tv company possibly even before year end.

Echostar, symbol DISH saw its price plummet 18% to just under $40 last week. In just the last month alone it has nearly lost one quarter of its value. In previous attempts, AT&T was set to offer $65 a share, while EchoStar and its CEO Charlie Ergen were looking more for $75. AT&T may be smelling blood now that Echostar has pulled back significantly.

EchoStar’s stock was rocked on the news in its third-quarter earnings announcement on Nov. 9 that churn had risen to 1.9%, from about 1.7% a year ago, and that the company added only 110,000 subscribers. The report was even weaker when compared to the good earnings released by DirecTV.





by Aaron Kemp on November 18, 2007 · 0 comments

in Dish Network

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