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Charles Ergen, chairman and co-founder of Dish Network Corp
Jonathan Alcorn | Bloomberg | Getty Images
Billionaire Charlie Ergen is consolidating his telecom empire, merging his companies DISH Network and EchoStar in an all-stock deal.
“This is a strategically and financially compelling combination that is all about growth and building a long-term sustainable business,” Ergen, chairman of both DISH and EchoStar, said in a statement.
As of Monday’s close, EchoStar had a nearly $2 billion market value, while Dish’s market value was just above $4 billion.
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