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

This weekend’s celebrity birthdays

diaz

A look at the celebrities who will be celebrating this weekend.

in Sports

49ers linebacker Aldon Smith suspended by NFL

San Francisco 49ers linebacker Aldon Smith (99) against the Indianapolis Colts during the first half of an NFL football game in San Francisco, Sunday, Sept. 22, 2013.

San Francisco 49ers linebacker Aldon Smith has been suspended for nine games by the NFL

in Sports

This week’s top sports shots

little

A look at the biggest stories and best photography in sports this week.

in Entertainment

WATCH: 10 best ‘Simpsons’ episodes

In this photo released by Fox, Homer explains why he wants to bring back the annual 4th of July fireworks display, after it's cancelled for budget reasons, in the "Yellow Badge of Cowardge" Season Finale episode of "The Simpsons," in May 2014. The full 25-year run of "The Simpsons" will arrive on cable channel FXX with a summer marathon, to be paired this fall with a digital extravaganza that could turn other TV shows yellow with envy. "I'm not going to over-promise, but I think this website will provide you with affordable health care," longtime "Simpsons" executive producer Al Jean told a TV critics' meeting Monday, July 21, 2014.

The recent marathon of all 552 episodes of "The Simpsons" inspired us to sit down and come up with our 10 favorite episodes. Enjoy!

in Sports

This weekend’s sports schedule

yankees

A complete look at this weekend's sports schedule.

Bellingham Traffic