Dish Networks and EchoStar have announced their merger, bringing together a satcaster, streaming services, a nationwide 5G network, and a leading satellite communications business. The merger is expected to close by the end of the year and will result in cost and revenue synergies. Additionally, Dish Network confirms a cyber security incident, with the possibility of personal data being stolen, causing the stock to fall to a 14-year low.
Dish Network Confirms "Cyber Security Incident," With Personal Data Possibly Stolen; Stock Falls To 14-Year Low
Today’s merger, which will see cost and revenue synergies, is expected to close by year end. The combined company will be headquartered in Englewood, Colorado with a suite of consumer and business brands including Dish Wireless, Boost Wireless, Sling TV and Dish TV, as well as EchoStar, the Hughes and Jupiter satellite services, HughesON managed services, and HughesNet satellite internet.
“This is a strategically and financially compelling combination that is all about growth and building a long-term sustainable business,” said Charles Ergen, chairman of the board of both companies. “DISH’s substantial past investments in spectrum and its wireless buildout, combined with EchoStar’s recent launch of JUPITER 3, are expected to significantly reduce near-term capex requirements.
DISH’s 5G wireless network now covers more than 70 percent of the U.S. EchoStar’s JUPITER 3 satellite launched with significant available capacity for converged terrestrial and non-terrestrial services. The merged company will be well-positioned to deliver a broad set of satellite and wireless communication and content distribution capabilities.: On closing, EchoStar stockholders will receive 2.
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