What DirecTV, Dish Network merger means for current customers
DirecTV and Dish Network are merging in a $10 billion deal that would create the nation’s largest pay-TV provider.
Transcript:
Conway Gittens: I’m Conway Gittens reporting from the New York Stock Exchange. Here’s what we’re having a look at on TheStreet this day.
It develop into a skittish stock market Monday but for the Dow and the S&P 500, September marked the Tenth monthly gain out of the last eleven.
Having a look upfront to Tuesday: Wall Boulevard will get the Institute for Supply Management’s factory survey for September, layoff and job turnover data for August, and Nike’s first quarterly results since announcing a brand new CEO.
Related: Your streaming products and services are simplest getting more expensive
In other news: Satellite TV customers are about to have fewer options. DirecTV and Dish Network are merging in a $10 billion deal which may perhaps create the nation’s largest pay-TV provider.
The question surrounding this proposed merger isn’t why, but what took so long? Viewers have cut the cord at an alarming rate, leaving all pay-TV operators in an existential crisis. Combined, the 2 companies say they'll have roughly 18 million customers. That’s a head-spinning 63 percentplunge from peak subscriber numbers in 2016. Compare that to others within the industry - both Charter and Comcast had about thirteen million subscribers as of the tip of the 2d quarter.
DirecTV CEO Bill Morrow said “With greater scale, we expect a combined DirecTV and Dish will probably be better in a position to work with programmers to achieve our vision for the way forward for TV, which is to aggregate, curate and distribute content tailored to customers’ interests, and to be better positioned to achieve operating efficiencies while creating value for purchasers through additional investment.”
So what does this mean for purchasers? The likelihood of more blocked out channels and more fights between satellite companies and channel owners. In September, DirecTV customers lost get entry to to Disney-owned channels like ESPN and ABC.
And what about prices? DirecTV had previously announced price increases for October earlier than the merger news. Streaming customers will should pay 6 to 10 dollars more a month, while satellite TV prices are going up by as a superior deal as 10 bucks. A $7 price expand went into effect at Dish starting in September.
That’ll do it for your Everyday Briefing. From the New York Stock Exchange, I’m Conway Gittens with TheStreet.
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