DISH Network Shares Fall Following Report It's Seeking Cash to Pay for 5G Rollout

By
Bill McColl
Bill McColl
Full Bio

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.

Learn about our editorial policies
Published June 09, 2023
Dish Network

David Becker / Stringer / Getty Images

Key Takeaways

  • DISH Network shares tumbled over 12% on Friday following a report that it's looking to sell assets to pay for its 5G rollout by the end of the month.
  • The company's efforts to form partnerships have stalled.
  • Shares of DISH Network have lost more than 53% of their value so far this year.

DISH Network (DISH) shares plunged over 12% on Friday following a report the struggling satellite TV provider is looking to raise cash to pay for its plan to provide 70% of the U.S. with 5G coverage by the end of the month.

Chair Charlie Ergen reportedly explored numerous partnership options, but none appear to have moved forward. Among them was a proposal to merge DISH with AT&T (T) and TPG-owned (TPG) rival DirecTV. 

Shares of DISH had jumped last week on indications Amazon (AMZN) might team with the company to offer wireless phone service to Amazon Prime customers.

However, with Friday's decline, shares of DISH Network have lost more than 53% of their value so far this year.

DISH YTD

YCharts
Do you have a news tip for Investopedia reporters? Please email us at
Article Sources
Investopedia requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy.

  1. New York Post. "Dish Network desperate to raise money to meet 5G deadline, source says."

Take the Next Step to Invest
×
The offers that appear in this table are from partnerships from which Investopedia receives compensation. This compensation may impact how and where listings appear. Investopedia does not include all offers available in the marketplace.