Welcome to our dedicated page for DISH Network Corporation news (Ticker: DISH), a resource for investors and traders seeking the latest updates and insights on DISH Network Corporation stock.
DISH Network Corporation (symbol: DISH) is a leading connectivity company that has been a disruptive force in the industry since 1980. Through its subsidiaries, DISH provides a range of television entertainment and technology solutions to millions of customers across the United States. The company operates two primary services: satellite DISH TV and streaming SLING TV. Additionally, DISH became a nationwide U.S. wireless carrier in 2020 with the acquisition of Boost Mobile, continuing to innovate in the wireless sector by building the nation's first virtualized, O-RAN 5G broadband network.
Recent Achievements and Current Projects:
- In December 2023, DISH was acquired by EchoStar Corporation, making it a wholly owned subsidiary and resulting in DISH's convertible notes being exchanged for EchoStar Class A common stock.
- Boost Infinite expanded its wireless plan offerings, including the introduction of Infinite Access for Galaxy, catering specifically to Samsung Galaxy device users with an annual upgrade option.
- Boost Mobile reintroduced popular devices like the Celero5G and Celero5G+, which boast advanced wireless technology and are compatible with the Boost Wireless Network.
- DISH Wireless received a $50 million grant from the U.S. Department of Commerce's NTIA to establish the Open RAN Center for Integration & Deployment (ORCID), positioning itself as a leader in Open RAN technology.
- DISH continues to expand its Boost Wireless Network, now offering VoNR (5G voice) services to over 200 million Americans, marking significant progress in 5G technology deployment.
Financial Condition and Partnerships:
DISH has consistently driven value for consumers through innovation and strategic partnerships. As a subsidiary of EchoStar, DISH benefits from EchoStar's extensive global connectivity solutions, enhancing its product offerings and market reach. The company's competitive spirit and commitment to high standards have positioned it as a significant player in the connectivity and entertainment sectors.
Products:
- DISH TV: Satellite television service offering a wide range of channels and programming options.
- SLING TV: Streaming service providing live TV, on-demand content, and international programming.
- Boost Mobile: Prepaid wireless service offering affordable plans and a variety of mobile devices.
- Infinite Access: Subscription service providing the latest Samsung Galaxy devices and unlimited wireless service.
- Celero5G: Affordable 5G smartphones with advanced features and compatibility with the Boost Wireless Network.
For more information about DISH Network Corporation and its latest news, visit the company's official website and follow their updates. Stay informed to make confident investment decisions and understand the evolving dynamics of the connectivity and entertainment sectors.
DISH Network has lost access to local channels operated by Mission Broadcasting and White Knight Broadcasting due to their refusal of DISH's contract extension offers. This removal affects customers in 28 markets nationwide, eliminating channels such as ABC, CBS, FOX, NBC, CW, and MNT. DISH President Brian Neylon expressed disappointment over the situation, emphasizing the unreasonable rate increases demanded by the broadcasters amid declining viewership. DISH aims to continue negotiations to restore service and keep costs low for customers.
On November 28, 2022, Cox Media Group blacked out local stations for DISH TV customers in nine markets due to a dispute over fees. Cox demands nearly a 75% rate increase and insists on payments from customers who do not subscribe to local channels. DISH claims this is a tactic to leverage negotiations as viewership for Cox has been declining. The dispute affects major networks like ABC, FOX, CBS, and NBC in cities including Atlanta and Seattle. DISH Network aims to advocate for fair agreements on behalf of its customers.
DISH has launched a groundbreaking 3-Year TV Price Guarantee, promising stable pricing for new customers amidst soaring inflation rates. This first-of-its-kind offer prevents annual price increases for packages starting at $79.99 per month, providing financial predictability for consumers through 2025. Ranked #1 in customer satisfaction by J.D. Power for five consecutive years, DISH aims to alleviate financial stress for households. The guarantee requires a 2-year commitment and pairs with the Hopper Plus entertainment system, enhancing user experience with access to over 10,000 apps.
DISH Network Corporation has priced an offering of $2 billion aggregate principal amount of its 11.750% Senior Secured Notes due 2027. The Notes will be issued at an issue price of 98.171% of the principal amount.
The net proceeds are intended for general corporate purposes, including wireless infrastructure buildout. The offering is set to close on November 15, 2022, subject to customary conditions.
DISH Network Corporation (NASDAQ: DISH) announced on Nov. 2, 2022, its intention to offer approximately $2 billion in senior secured notes, pending market conditions. The proceeds will be allocated for general corporate purposes, including expanding its wireless infrastructure. The notes, secured by DISH Network subsidiaries' assets, will be sold exclusively to qualified institutional buyers under Rule 144A and in offshore transactions. Registration under the Securities Act is not available, and this announcement does not constitute an offer or solicitation.
DISH Network Corporation reported a revenue of $4.10 billion for Q3 2022, a decline from $4.45 billion in Q3 2021. Net income was $412 million, down from $557 million year-over-year, with diluted earnings per share at $0.65 compared to $0.88 in the previous year. Pay-TV subscribers rose by approximately 30,000 to reach 10.02 million, while retail wireless subscribers increased by about 1,000 to 8.01 million.
DISH Network Corp. (NASDAQ: DISH) will host a conference call on November 2, 2022, at noon ET to discuss its third-quarter results. Attendees can join via dial-in at (800) 289-0459 or (323) 794-2558 using the passcode 823723. The financial results will be available before the call and posted on DISH's Investor Relations website. Additionally, a replay of the call will be accessible for 48 hours after the event. DISH continues to innovate in connectivity, providing satellite and streaming services, and has established itself as a U.S. wireless carrier.
Boost Mobile has launched OmniMoney, a free digital money account and debit card aimed at historically underbanked consumers. This new service offers mobile access to money transfers, debit cards, and no-fee digital checking. Users can enjoy in-store cash deposits, discounts on Boost services, and free remittances to Mexico up to $1,000 monthly with select plans. OmniMoney has no credit checks, minimum balance requirements, or monthly fees. The app allows easy management of finances and provides access to over 400,000 ATMs nationwide.
The Walt Disney Company has imposed a channel blackout affecting DISH TV and SLING TV, cutting access to popular channels such as ESPN and ABC in multiple markets. DISH claims Disney rejected contract extension offers and demands nearly a billion dollar fee increase. This blackout disproportionately affects rural consumers who rely on satellite TV. DISH executives criticize Disney for prioritizing profits over viewer experience, while expressing hope for future negotiations to restore programming.
DISH has been recognized as the top brand in Customer Satisfaction among cable/satellite TV services for the fifth consecutive year in the J.D. Power 2022 U.S. Television Service Provider Satisfaction Study. The company ranked #1 in six key factors, including Performance and Reliability and Features and Functionality. CEO Erik Carlson emphasized the team's dedication to customer care, while EVP Brian Neylon noted the award signifies DISH's commitment to service and technology. The company continues to enhance its offerings with products like the Hopper Plus, integrating live TV and streaming services.
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