EchoStar Completes Acquisition of Dish Network in Strategic Pivot to 5G

Charlie Ergen to serve as executive chairman of the combined company, aiming to boost Dish's financial performance and meet regulator-set coverage deadlines.

• EchoStar Corporation has completed its acquisition of Dish Network, making Dish a wholly owned subsidiary of EchoStar.
• The merger is part of Dish's pivot to 5G, following its acquisition of Boost Mobile and the launch of Project Genesis, which aims to offer a fourth large network to compete with AT&T, Verizon, and T-Mobile.
• Charlie Ergen, who has a controlling stake in both companies, will serve as the executive chairman of the combined company, while EchoStar CEO Hamid Akhavan will serve as president and CEO.
• Dish has been struggling financially, with its pay-TV subscriber base declining by one-third over the past 10 years. The merger gives Dish access to EchoStar’s resources and a better chance at meeting its regulator-set deadline of 75 percent coverage by June 2025.
• The merger has received mixed reactions from investors, with EchoStar shares remaining flat on the first day of trading since the merger's completion.

4 Articles

The Verge Deadline TheWrap The Hollywood Reporter