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: Aug. 1

mtv

A look at the Hollywood headlines that made history.

in Sports

Florida State tops preseason Amway coaches’ poll

Florida State quarterback Jameis Winston throws a pass before an NCAA college football game against Miami Sunday, Nov. 3, 2013, in Tallahassee, Fla.

Rounding out the top five were Alabama, Oklahoma, Oregon and Auburn with the first-ever playoff looming at the end season.

in Sports

Dustin Johnson takes leave of absence from golf

Dustin Johnson of the US plays a shot on the 17th fairway during the second day of the British Open Golf championship at the Royal Liverpool golf club, Hoylake, England, Friday July 18, 2014.

In a statement Thursday from Hambric Sports Management, the 30-year-old Johnson said his leave of absence was effective immediately.

in Sports

Another decent start for Woods at Firestone

Tiger Woods answers questions at his news conference during the final practice day for the Bridgestone Invitational golf tournament Wednesday, July 30, 2014, in Akron, Ohio.

Woods made six birdies Thursday to open with a 2-under 68 at the Bridgestone Invitational, just four shots behind Marc Leishman.

in Sports

A’s & Tigers escalate arms race on busy MLB trade deadline day

oakland athletics and detriot tigers logos

Oakland sends Yoenis Cespedes to Boston for Jon Lester while the Tigers pick up David Price in 3-team deal.

Bellingham Traffic