EchoStar is selling its Dish and Sling businesses to DirecTV. DirecTV will pay EchoStar no cash.
DirecTV agreed to buy satellite rival Dish network Monday, ending decades of on-and-off talks in a deal that will create one of the country's largest pay TV distributors with a combined 20 million subscribers.
CNBC's Andrew Ross Sorkin reports on the latest news.
DirecTV said Monday it has agreed to acquire Dish Network from EchoStar. The merger would create one of the US' largest pay-TV provider.
Here are some of the major companies whose stocks moved on the week's news.
EchoStar is in advanced talks to sell satellite TV provider Dish Network to rival DirecTV, according to people familiar with the matter. While the sides hope to complete a deal by Monday, no deal is assured, and the talks may still fall apart, said the people.
Shares 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.
Shares of EchoStar (SATS) soared Friday on a report that its Dish is in advanced talks to be acquired by satellite-TV rival DirecTV.
CNBC's David Faber delivers his latest Faber Report.
The Wall Street Journal reported DirecTV could acquire rival Dish, creating one of the nation's largest pay-TV providers, in a deal that could be announced as soon as Monday.
EchoStar Corporation SATS has received the Federal Communications Commission's (“FCC”) approval for its 5G network buildout framework, allowing optimized coast-to-coast expansion of the world's first cloud-native Open RAN Boost Mobile Network, as noted in the FCC's Universal Licensing System.
SATS' Hughes expands digital signage capabilities with the introduction of the advanced HS600 Media Player.