Net pay-TV subscribers fell by 314,000 to 8.53 million as Echostar posted a $2.03 billion (€1.87bn) loss for Q4. The company said the loss was primarily attributable to a non-cash goodwill impairment charge of $758 million, and an adjustment to the carrying value of the 800 MHz purchase option totalling approximately $1.6 billion. Revenue fell […]

EchoStar, which now owns Dish Network, and having suffered two reversals in its plans to raise fresh borrowings, is now contemplating raising $3 billion (€2.78bn) by issuing debt which is backed by its spectrum assets. A report from Bloomberg says that EchoStar could issue new notes backed by 20 MHz of its AWS-4 terrestrial spectrum, […]

EchoStar’s highly contentious plans to raise cash by issuing and restructuring its debts, which received significant objections from creditors, has been abandoned. It is the second time in two weeks that Dish Network’s parent EchoStar has scrapped a controversial proposal to restructure debt after creditor backlash. The satellite TV provider announced on February 12th the […]

EchoStar, which now includes most of the former Dish Network assets, has scrapped one of its controversial debt swap proposals. Dish, says EchoStar, “in its sole discretion” had decided to abandon the plan. EchoStar has confirmed that its Dish subsidiary has ended an offer announced two weeks ago to swap more than $6 billion (€5.5bn) […]

EchoStar-owned broadband-by-satellite service HughesNet has reportedly lost more than 30 per cent of its subscribers over the past three years with Starlink seemingly picking up the cancellations. Some of the comments suggest that for HughesNet subscribers “in a deep valley with limited potential visibility of Starlink” they will have to stay with HughesNet. Other HughesNet […]

More detail has emerged on the news that a number of Dish Network creditors have written to the company alleging that the Charlie Ergen-backed pay-TV broadcaster engaged in an “illegal” restructuring when it – in effect – merged with EchoStar. They are demanding that the merger be reversed. This is unlikely to happen so the […]

EchoStar, having recently merged with Dish Network, has upset some investors and creditors in Dish. An Ad-hoc grouping of Dish Network investors and holders of the company’s debt have reportedly met and drafted an agreement to band together in potential negotiations with the company. The groups are exploring legal options, including default notices under certain […]

Having already announced in November 2023 that 499 staff would be let go, newly merged EchoStar is laying off another 157 workers. The staff will be paid until March, said a company announcement. Dish Network and EchoStar, both based in suburbs of Denver, Colorado, merged on December 31st 2023. The news was filed to local […]

Charlie Ergen’s EchoStar is reportedly looking to swap around $4.9 billion (€4.4bn) of debt for new bonds that will be backed by the company’s extensive portfolio of 5G wireless spectrum. The plan was announced after the market closed on January 12th and in essence said that holders of existing convertible debt – already significantly downgraded […]

Charlie Ergen has been busy mapping out his chess-type strategy for his combined Dish Network and EchoStar businesses. Now trading under the ‘Dish’ banner, Ergen has spun off a batch of his terrestrial spectrum licences into a new subsidiary and this move helped rocket Dish’s share price by an impressive 41 per cent on January […]