DISH Network Corp. (NASDAQ: DISH) Shares are trading lower on Friday amid reports of its struggle to sell assets and fight insider speculation of possible bankruptcy.
By June, the struggling satellite TV company will likely meet its commitment to cover 70% of the United States with a 5G wireless network. However, sources are increasingly doubting Dish’s ability to complete construction, reports the New York Post.
Apparently the boss of Dish Charlie Ergen desperate to sell some of the company’s assets, trying to sell anything non-essential and finance fundable assets. Additionally, Dish’s explored merger with fellow satellite provider DirecTV has stalled.
Ergen also spent more time in Washington, DC meeting with regulators to buy more time to complete it.
Likewise, customers continue to cut the cord and drop satellite service, and talks with Amazon.Com Inc. (NASDAQ: AMZN) regarding the provision of spectrum to Prime customers has not materialized.
Dish’s next deadline isn’t until 2025 and only requires Dish to cover 75% of the United States. However, it will need billions as Dish needs to cover rural and hard-to-serve areas.
New street search Political analyst Blair Levin recently noted that a 1-2 year extension would allow Dish to retain or delay $2-3 billion in capital spending, giving it more scope to grow its business base. consumer and business subscribers. However, he remained skeptical of regulatory approval for an extension.
Price Action: Shares of DISH traded down 1.48% to $7.32 pre-market when last checked on Friday.
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This What’s Going On With Dish Stock Friday article originally appeared on Benzinga.com
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