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.

Latest Headlines

in Local

Maine Close on Endangered Species Proposal

Fresh
WGAN-100x100

Maine environmental officials expect to craft legislation to add several new species to the state's threatened and endangered animals list within a month.

in Local

Maine PAC Mailers Attack LePage on Education

Fresh
governorlepage

A political action committee has begun a $70,000 campaign hitting Gov. Paul LePage for his education policies.

in Local

Deal Reached to Pay for Proposed I-95 Interchange

Fresh
Newsradio WGAN

WATERVILLE, Maine (AP) _ The city of Waterville, the state and a private developer have worked out to a deal to share the $6 million cost of a proposed new interchange off Interstate 95 in town.

in Local

Greek Orthodox Priest Facing Child Porn Charges

Fresh
GENERIC ARREST

BANGOR, Maine (AP) _ Authorities say a Greek Orthodox priest from Bangor is facing child pornography charges.

in Local

Cruise Ship Passengers Bolster Portland’s Economy

Fresh
PORTLAND SKYLINE

PORTLAND, Maine (AP) _ City officials say the number of passengers scheduled to sail into Portland on cruise ships this year is up 15 percent over last year, providing a valuable boost to the area's economy.