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

Pee-wee Herman headed back to big screen

Fresh
peewee

Actor Paul Reubens is set to reprise his role as suited man-boy Pee-wee Herman in a new movie.

in Sports

MLB: Who’s staying, who’s going

Fresh
worldseries

Major League Baseball teams are making roster moves.

in Sports

Friday’s Sports Minute

Fresh
lebron

A look at the big sports stories you'll be talking about today, Friday, Oct. 31.

in Sports

Clippers launch new era under Balmer with scrappy win

Fresh
clippers

Los Angeles found a way to launch their season under new owner Steve Ballmer.

in Trending, Viral Videos

TODAY’S MUST SEE: ‘Scaring’ with the ‘Stars’

Fresh
11-overlay3

Halloween is alive and well on the set of the hit ABC show "Dancing With the Stars."

Bellingham Traffic