Breakingviews - Satellite reunion creates a bit of breathing space
Ergen’s renowned frugality means there will be limited savings. Joining the two companies he chairs will reduce costs by about $75 million a year, or less than 1% of their combined operating expenses and capital expenditures. The primary objective appears to be getting EchoStar’s $1.
9 billion of cash onto Dish’sas the latter tries to make better use of its hulking portfolio of wireless spectrum. Dish shareholders, who will own 69% of the enlarged entity, are issuing stock at a rock-bottom price for the privilege. If nothing else, though, the modest 13% premium they’re offering to EchoStar shareholders buys some valuable time.
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