Overview

• EchoStar Corporation has completed its acquisition of Dish Network, making Dish a wholly owned subsidiary of EchoStar.
• The merger is part of Dish's pivot to 5G, following its acquisition of Boost Mobile and the launch of Project Genesis, which aims to offer a fourth large network to compete with AT&T, Verizon, and T-Mobile.
• Charlie Ergen, who has a controlling stake in both companies, will serve as the executive chairman of the combined company, while EchoStar CEO Hamid Akhavan will serve as president and CEO.
• Dish has been struggling financially, with its pay-TV subscriber base declining by one-third over the past 10 years. The merger gives Dish access to EchoStar’s resources and a better chance at meeting its regulator-set deadline of 75 percent coverage by June 2025.
• The merger has received mixed reactions from investors, with EchoStar shares remaining flat on the first day of trading since the merger's completion.