EchoStar Evaluates Strategic Options Following Dish Network Merger

Stock surges as company hires advisors and transfers wireless spectrum licenses to new subsidiary.

Overview

EchoStar's stock surged as much as 41% after the company hired advisors to evaluate strategic alternatives following its merger with Dish Network.
The merger, completed on December 31, was engineered by telecom mogul Charlie Ergen to tackle growing competition from larger U.S. carriers.
EchoStar transferred several wireless spectrum licenses to a wholly owned subsidiary, EchoStar Wireless Holding, following the merger.
The company has hired Houlihan Lokey and White & Case LLP as financial and legal advisors to help it evaluate strategic options.
EchoStar subsidiary DISH Wireless received a $50 million grant from the U.S. Department of Commerce's National Telecommunications and Information Administration (NTIA) to establish the Open RAN Center for Integration & Deployment (ORCID).