Why EchoStar Stock Crashed 18% Today
SATSEchoStar(SATS) The Motley Fool·2024-09-30 23:05

At long last, EchoStar is exiting the satellite TV business. So it seems that the rumors were true. Two weeks after Bloomberg broke the story that the on-again, off-again merger between EchoStar (SATS -11.48%) and DirecTV might be on again, EchoStar this morning announced a "suite of transformative transactions to delever its balance sheet and improve its debt maturity profile." Investors are unimpressed. EchoStar stock fell 18.5% through 10:15 a.m. ET on the news. How the Dish-DirecTV merger will work As E ...