Dish Network Parent EchoStar’s Stock Climbs On Latest DirecTV Merger Reports
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deadline.comShares of Dish Network parent EchoStar surged on heavy trading volume Friday on reports of a merger agreement could soon be reached between Dish and satellite TV rival DirecTV.
With an hour left in the trading day, the stock was up 9% at $28.08. The combined entity would be the largest pay-TV provider in the U.S.
with nearly 20 million subscribers. In 2021, AT&T spun off DirecTV into a privately held company, with private equity firm TPG buying a 30% stake.
Dish and EchoStar merged last January. The Wall Street Journal and Bloomberg both reported that a combination was in advanced discussions, with a deal potentially being announced as soon as Monday.
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