DISH Network Corp (NASDAQ: DISH) Chair Charlie Ergen is weighing the merger of the two halves of his telecom empire, Dish and EchoStar Corp (NASDAQ: SATS).
The companies have engaged advisors, Reuters cites familiar sources.
In 2008, EchoStar Communications, which Ergen founded as a satellite television equipment distributor in 1980, changed its name to Dish Network and spun off its technology arm as a new company named EchoStar.
Currently, Ergen is desperate to sell some of Dish’s assets, trying to sell everything that is non-core and to finance financeable holdings as the company struggled to sell assets and battle speculation of possible bankruptcy.
Also Dish’s talks with Amazon.Com Inc (NASDAQ: AMZN) about providing Prime customers with spectrum failed to materialize.
Price Actions: DISH shares closed higher by 0.74% at $6.81 on Thursday. ECHO shares closed higher by 3.46% at $17.66.
Photo via Wikimedia Commons
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Source: https://finance.yahoo.com/news/dish-networks-charlie-ergen-explores-125715601.html