Charlie Ergen reportedly looking to merge Dish Network, EchoStar: report
Kevin Colleran
Dish Network Chairman Charlie Ergen is considering merging the two halves of his telecom empire, Dish and EchoStar, news publication Semafor reported on Thursday, citing people familiar with the matter.
The companies have engaged advisers, according to the report, which did not offer details on the timeline for a deal or the size.
Charlie Ergen founded EchoStar as a satellite television equipment distributor in 1980.REUTERS In 2008, EchoStar changed its name to Dish Network and spun off its technology arm as a new company named EchoStar.SOPA Images/LightRocket via Getty Images
Dish and EchoStar did not immediately respond to Reuters’ requests for comments.
Dish’s shares were 5% lower in afternoon trade while EchoStar’s stock was down 3.4% amid weaker broader market.
The companies have engaged advisers, according to the report, which did not offer details on the timeline for a deal or the size.AP
In 2008, EchoStar Communications, which was founded by Ergen 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 Corp.
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