Dish, EchoStar Shares Rise After FCC Approves Merger
December 07 2023 - 11:56AM
Dow Jones News
By Will Feuer
Shares of Dish Network and EchoStar rose after the Federal
Communications Commission on Wednesday signed off on the planned
merger of the two companies, both controlled by Charlie Ergen.
Dish shares climbed 6.7 to $4.22 in Thursday morning trading.
Shares are still down almost 70% this year.
EchoStar shares rose 5.7% to $12.05. The stock is down about 27%
this year.
The "approval removes the biggest hurdle to closing; perhaps the
only hurdle," NewStreet Research analyst Jonathan Chaplin said.
"Closing the deal will remove the biggest hurdle to Dish being
funded through 2024."
Write to Will Feuer at Will.Feuer@wsj.com
(END) Dow Jones Newswires
December 07, 2023 11:41 ET (16:41 GMT)
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