What’s Dish Up to Now?Comments Off on What’s Dish Up to Now?
Dish Network will be hosting an impromptu meeting with analysts today. Jonathan Chaplin at New Street Research laid out the potential options that Dish CEO Charles Ergan might discuss on the call. “We lay out and attempt to value the categories of options that Dish faces,” Chaplin wrote. “Ergen believes his equity is undervalued (as we do); we assume he has a message for investors that he hopes will get them to value his assets differently. The two areas he could focus on are spectrum and Sling. Spectrum is the asset that is most undervalued; however, we are not sure what he will be able to say on this beyond laying out the options. We doubt that he will commit to a specific course of action and, if he did, he would undoubtedly leave himself with the flexibility to change course if another more valuable option materialized. He could announce his intention to move the spectrum to a separate corporate entity that might make a sale or a wholesale model easier; however, this wouldn’t preclude an acquisition either (all options would remain open).” We’ll keep you posted after Dish hosts the call today.
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