DISH Shares Plunge to 25-Year Low as Subscribers Decline and It Sells Off Assets

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Bill McColl
Bill McColl
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Bill McColl has 25+ years of experience as a senior producer and writer for TV, radio, and digital media leading teams of anchors, reporters, and editors in creating news broadcasts, covering some of the most notable news stories of the time.

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Published November 06, 2023
Dish Network satellite dish

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Key Takeaways

  • DISH Network reported a surprise loss as the number of subscribers declined, and shares plunged to a 25-year low.
  • The company sold off assets in Puerto Rico and the Virgin Islands to Liberty Latin America to boost capital for its U.S. wireless business.
  • CEO Erik Carlson will step down Nov. 12 as the company moves to complete its merger with EchoStar.


DISH Network (DISH) shares crashed Monday to their lowest level in a quarter century after the satellite TV provider posted worse-than-expected results as it lost subscribers.

DISH reported a third quarter fiscal 2023 loss of $0.26 per share, after recording a gain of $0.65 a share a year ago. Analysts had anticipated a profit. Revenue fell 9.5% from a year ago to $3.7 billion, also missing estimates.

Net pay TV subscribers fell by approximately 64,000. DISH TV subscribers declined by 181,000, and they rose by 118,000 at SLING TV. The number of retail wireless subscribers plunged by 225,000. 

DISH said that it had sold Spectrum assets in Puerto Rico and the Virgin Islands, as well as 120,000 prepaid mobile subscribers in those markets, to Liberty Latin America (LILA) for $256 million. DISH indicated the deal would provide it with additional capital to focus on its U.S. wireless business.

In addition, DISH said CEO Erik Carlson would be stepping down as of Nov. 12. Carlson was scheduled to resign when the company completed its merger with EchoStar (SATS) that was announced in August. That transaction is expected to be concluded sometime this year. EchoStar CEO Hamid Akhavan will replace Carlson.

Shares of DISH Network lost over a third of their value following the news. EchoStar shares also plummeted and traded near their all-time low. 

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  1. DISH Network. "DISH Network Reports Third Quarter 2023 Financial Results."

  2. Liberty Latin America. "LIBERTY LATIN AMERICA TO ACQUIRE PUERTO RICO AND USVI SPECTRUM AND SUBSCRIBER ASSETS FROM DISH NETWORK."

  3. DISH Network. "DISH Network Corporation and EchoStar Corporation to Combine."

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