DISH Network Corp. (DISH, Financial) (1.5%) (DISH – $34.07 – NASDAQ) approximately 12 million subscribers through its original satellite business and newer Sling internet delivered over-the-top offering. Founder Charlie Ergen owns approximately half of DISH’s shares. DISH has accumulated a significant spectrum position at attractive prices. DISH could monetize its spectrum through a sale of the spectrum or the whole company, or, more likely, a partnership with an existing wireless operator or new entrant to the industry such as Amazon. These events could be accelerated if DISH is able to consummate its acquisition of customers and spectrum divested as part of the Sprint/T-Mobile merger process. That transaction will likely need to clear a series of court challenges early in 2021.
From Mario Gabelli (Trades, Portfolio)'s Gabelli Value 25 Fund third-quarter 2019 commentary.
