Billionaire Charlie Ergen to Merge Dish and EchoStar to Expand Satellite Telecom and Mobile Empire

Billionaire Charlie Ergen is consolidating his telecommunications empire, merging his satellite and broadband services companies Dish Network and EchoStar in an all-stock deal.

“This is a strategically and financially compelling combination that is all about growth and building a long-term sustainable business,” Ergen, chairman of both Dish and EchoStar, said in a statement.

As of Monday’s close, EchoStar had a nearly $2 billion market value, while Dish’s market value was just above $4 billion, according to FactSet.

Read the source article at CNBC