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EchoStar Chairman Charlie Ergen Skips Dish Network Parent’s Quarterly Earnings Call As Investor Angst About Debt Keeps Mounting
Charlie Ergen's singular voice fell silent Friday as the EchoStar chairman skipped the Dish Network parent's quarterly earnings call.
In an SEC filing on Thursday ahead of earnings, the company noted that it “expects to use a substantial amount of cash” to make debt payments this year, including one in March. It is simply not realistic to expect aturnaround.” Even a bankruptcy filing would be complicated, he added, given that the likeliest buyers of wireless spectrum would be AT&T, Verizon and T-Mobile, but regulators would likely object to the Big Three gaining even more market share. The Financial Times recently reported on creditors’ concern that Ergen and EchoStar got “too creative” in trying to meet the dual challenges of surging interest rates and pressure to keep pace with technology changes.
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