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.

Recent Headlines

in Entertainment

Today in entertainment history: Oct. 21

Fresh
elton-john

A look back at the Hollywood headlines that made history.

in Entertainment

Robin gig has gone to the girls

jenamalone

The superhero sidekick is set for a sex change in the upcoming "Batman V. Superman: Dawn of Justice" film.

in Music

Led Zeppelin plagiarism case to be heard in Pa.

2012 Kennedy Center Honorees and members of the band Led Zeppelin, from left, Jimmy Page, John Paul Jones, and Robert Plant chat on the red carpet after arriving at the Kennedy Center for the Performing Arts for the 2012 Kennedy Center Honors Performance and Gala Sunday, Dec. 2, 2012 at the State Department in Washington.

Led Zeppelin have lost the first round in their plagiarism battle over mega-hit "Stairway to Heaven."