Dish's Stock Price Rises Over Possible Acquisition
by Wayne Friedman, Oct 2, 2013, 7:29 PM
Dish Network’s stock shot up on Wednesday in the midst of company activities pursuit to buying up some wireless spectrum assets. Dish Network climbed a 5% on to close at $47.98.
Earlier in the week, a Manhattan bankruptcy judge approved an auction process that included a bid of $2.22 billion by Dish for wireless spectrum held by LightSquared.
Dish shares have risen near 27% since the start of the year.
The company failed in its previous attempts to acquire other wireless spectrum control by Sprint Corp. and Clearwire Corp. That ended when Sprint bought the assets of Clearwire that it did not already own.
In separate news, earlier in the week Dish and Disney-ABC Television extended its deadline of their channel carriage contract talks. Disney, according to reports, is demanding a sizable increase in subscriber fees for its channels, including ESPN, which already sits at the highest level of all TV networks, some $5.00 per subscriber per month.
But it is not only price that has been a sticking point. Dish and Disney have been negotiating around Dish’s AutoHop technology feature, according to reports, that allows viewers more easily to skip over TV commercials that come through Dish’s Hopper set top boxes.