Dish’s “Seinfeld” strategy appears to have ended quite like the actual show — with its finale a generally-accepted disappointment.
In 2011, Dish cofounder Charlie Ergen first mentioned “Seinfeld” on an earnings call, responding to an analyst’s question about his company’s mixed bag of assets. Ergen noted a half-hour episode of the 1990s sitcom would usually start with multiple plot lines without a clear direction, “But it all seemed to come together in the last couple of minutes,” he said. “And so I think in terms of where we’re going strategically, you’ll have to just wait and see where it all comes together.”
On Monday, assuming regulatory approval, the conclusion was revealed.
EchoStar, Dish’s parent company, sold the pay-TV provider to DirecTV for a nominal price of $1 and $9.75 billion of associated debt on the business. EchoStar shares fell more than 11% Monday.
In recent years Dish tried and failed to transition to a nationwide wireless carrier, while seeing millions of pay-TV subscribers …