News

Dish reports net loss, decline in pay-TV subscribers

Dish reports net loss, decline in pay-TV subscribers

Dish, the second-largest U.S. satellite TV company, posted a net loss in the second quarter. Photo: Reuters

(Reuters) – Dish Network Corp, the second-largest U.S. satellite TV company, posted a net loss in the second quarter as it took a $438 million charge related to satellite acquisitions, and reported a decline in gross pay-TV subscribers.

The company, founded by billionaire Charlie Ergen, said on Tuesday that it took the charge in the quarter ended June on two of the three satellites it bought in 2011.

Dish bought hybrid satellite and land-based communications company DBSD North America for about $1.4 billion in 2011. (http://link.reuters.com/saw22v)

The company also acquired satellite communications company TerreStar Networks Inc for $1.38 billion in the same year. (http://link.reuters.com/gew22v)

Dish reported a net loss of $11 million, or 2 cents per share, in the second quarter, compared with a net profit of $226 million, or 50 cents per share, a year earlier.

Revenue rose 1 percent to $3.61 billion.

Dish said total pay-TV subscribers declined about 78,000 in the quarter. The company added nearly 624,000 gross pay-TV subscribers, down from about 665,000 a year earlier.

Analysts had expected Dish to add 648,000 gross pay-TV subscribers, according to StreetAccount.

Dish added about 61,000 net broadband subscribers in the second quarter, up from nearly 11,000 a year earlier. Analysts had expected 52,000.

Analysts and investors have speculated about Dish chairman Ergen’s next move after bowing out of battles for wireless companies Sprint Corp and Clearwire in June.

Recent News

in Entertainment

Third ‘Night at the Museum’ marks final film for Williams, Rooney

Fresh
nightatthemuseum

The credits for "Secret of the Tomb," which opens Friday, read "In loving memory of Mickey Rooney," and "For Robin Williams - the magic never ends."

in Music

Noel Gallagher embarrassed daughter in front of Harry Styles

Noel Gallagher and Anais Gallagher at Arthur - UK film premiere held at the O2 Arena - Arrivals.
London, England - 19.04.11

Noel Gallagher left his teenage daughter mortified by embarrassing her in front of One Direction heart-throb Harry Styles.

in Music

Gene Simmons credits mother for drug-free life

Gene Simmons speaks onstage during the "4th and Loud" portion of the AMC 2014 Summer TCA on Friday, July 11, 2014, in Beverly Hills, Calif.

The Kiss frontman insists he has never been drunk or gotten high because he always worried about his mom's reaction.

in Music

Joan Jett to open for The Who’s 50th anniversary tour

Updated
joan

The "My Generation" hitmakers are set to bring their The Who Hits 50! tour to North America.

in Entertainment

Chris Pratt thought ‘Guardians’ would be a box office flop

Guardians Of The Galaxy

The "Parks and Rec" star was very, very wrong.