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

Judge Rejects Ebola Quarantine for Nurse

KACI-HICKOX-facebook

FORT KENT, Maine (AP) _ A Maine judge has rejected a bid by state health officials to restrict the movement of nurse Kaci Hickox, who defied a quarantine for medical workers who have treated Ebola patients.

in Local

Big Boost in Large Donors in Maine Governor’s Race

GENERIC MONEY LARGE

A Maine group seeking to boost public funding for campaigns says that contributions from large donors in this year's governor's race have skyrocketed since 2010.

in Local

Handcuffed Man who Escaped from Cruiser Caught

GENERIC ARREST

Police say they have captured a man who jumped out of a state police cruiser and escaped into the woods after his arrest in Chelsea earlier this week.

in Local

Portland, Gloucester Tie as New England Fish Ports

GENERIC FISHING NET

A federal report says Portland, Maine and Gloucester, Massachusetts, are now tied for second place in New England in volume of commercial fish landed.

in Local

Canadian Company to Buy Rumford, Maine Paper Mill

GENERIC PAPER MILL LARGE

A Canadian company is entering into an agreement to buy the Rumford Paper Co. mill.

Tweets

  • 19h
  • 19h
  • 22h
  • 23h
  • 23h
  • 23h
  • 23h