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DISH Network lost 194,000 subscribers in the fourth quarter of 2019, while AT&T-owned DIRECTV lost 945,000 members for its premium services, according to research firm MoffettNathanson.
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DISH has grown from approximately 13.27 million satellite subscribers in 2015 to just under 9.4 million in 2019. DIRECTV fell from 19.78 million to 16.8 million customers between 2015 (when AT&T bought the company) and 2019.
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With numbers like these, there have been rumors for some time that DISH and DIRECTV might merge, and the stage could be set for that.
AT&T bought DIRECTV in 2015 for $48.5 billion. The following year, he launched DIRECTV NOW (later renamed AT&T TV NOW, then DIRECTV STREAM), a premium streaming service, and some employees began to worry that it was the company's future.
It didn't help that NOW was $35 a month, while satellite customers were paying north of $100 a month. in the same product.
AT&T also spent $85 billion to buy TimeWarner in 2018 to bring more content into the home.
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After launching the DIRECTV T-16 satellite into orbit in June 2019, AT&T said it would be the last satellite the company would put into orbit. It wasn't surprising; Chairman and CEO Randall Stevenson said in late 2018, "We're done" supporting satellite TV.
Or is it? In September 2019, John Stankey, CEO of AT&T's WarnerMedia unit, told the Wall Street Journal that "DIRECTV is an important part of what we're going to do going forward." And Stankey is the successor to Stevenson, who has pledged to stay for just this year.
One of the loudest voices pushing AT&T to ditch DIRECTV was shareholder Elliott Management. Elliott issued a statement saying that "lines continue to deteriorate and AT&T's TV subscriber numbers are rapidly declining as the business, especially satellite, struggles. Unfortunately, it has become clear that AT&T has acquired DIRECTV, which is at the top of the TV market. After negotiations - In October last year, Elliott promised AT&T not to make other major acquisitions, but the company will not sell DIRECTV.
Based in downtown Denver, Colorado, DISH is led by CEO Charlie Ergen. He wasn't worried about what he thought would happen to satellite television.
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“This is probably inevitable because the growth in television is not coming from satellite TV providers. It comes from big planners and multibillion-dollar companies," he said in a February earnings call, adding that it makes sense.
The federal government's approval of the merger between wireless carriers T-Mobile and Sprint (a merger Ergen testified about) means Sprint must cut Boost Mobile wireless service, which Ergen has made clear it will buy. So far, this step has not happened.
DISH was on track to meet the FCC's March 2020 deadline to begin using a large wireless display unit it had purchased in its bid to become a 5G wireless provider, but wasn't ready to go. The FCC moved that date to June 2023, effectively ruling against a 2018 complaint filed by T-Mobile alleging that DISH "intends to continue to serve storage facilities without benefit to customers." Ergen said the company is preparing to move to 5G: “We weren't just looking at things. We were stockpiling enough to compete with the giants of the industry. "
DISH must make its 5G service available to at least 70% of the US population by June 2023 or pay $2.2 billion.
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DISH is also using the joint 5G network of T-Mobile in the US and Sprint in building its own system, a project the company estimates will cost $10 billion. While that sounds like a lot, FCC Commissioner Jessica Rosenwortzel noted that Verizon spends $15 billion a year just to maintain its network.
In a call with investors, Ergen confirmed that his company can do it right because DISH starts with "clean paper and automation [where] you can do it, so our costs are small."
There are several satellite TV providers, so if one goes out of business, another will pick up their customers. There are rumors that could support just about any scenario, but there is a wildcard: The management of Apollo Global, the world's largest private equity fund, has allegedly proposed to combine DIRECTV and DISH into a separate company. AT&T will control it, with Apollo and DISH as minority shareholders.
The business benefits are clear: AT&T keeps its satellite delivery service while continuing to move into broadcasting and allowing DISH to do the same by building its own 5G wireless network into the fourth-largest U.S. wireless company.
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In 2002, the two companies proposed a merger but were rejected by federal regulators who did not want to see a satellite TV monopoly.
The landscape has changed a lot since then. Craig Moffett of MoffettNathanson wrote that “satellite TV was not growing by the hour at the time. Now he is in free fall. That alone might be enough to settle the debate; Of course, two may be better than one, but both present bankruptcy risks in their own right. Heck, even together they could threaten bankruptcy. "
Given this reality, some form of merger between the two companies may be, as Ergen said, "inevitable."
Such a company would essentially be the only one, so consumers would have to rely on the threat of increased resistance to cable TV to keep subscription prices under control.
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Bringing data into your home for tasks like video calling, downloading large files, working with online documents, and playing games DirecTV (branded as DIRECTV) is an American video broadcasting company based in El Segundo, California. Launched on June 17, 1994, its primary service is a digital satellite service serving the United States. It also offers traditional IP TV services through the U-verse TV brand and Virtual MVPD service through the DirecTV Stream brand.
Its main competitors are Dish Network, traditional television providers, IP-based television services and other premium video services.
On July 24, 2015, after receiving approval from the Federal Communications Commission and the Department of Justice, AT&T acquired DirecTV in a deal valued at $67.1 billion.
As of Q1 2021, AT&T had 15.9 million pay TV customers, including DirecTV, U-Verse and DirecTV Stream subscribers.
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On February 25, 2021, AT&T announced that it would spin off DirecTV, U-Verse TV, and DirecTV Stream into a separate entity by selling a 30% stake to TPG Inc. while retaining a 70% stake in the newly independent company. . The deal closed on August 2, 2021.
In 1953, Howard Hughes established the Howard Hughes Medical Institute (HHMI), to which he transferred full ownership of Hughes Aircraft. Ostensibly set up as a non-profit medical research foundation, HHMI has been accused of being used by Hughes as a tax shelter.
After Hughes's death in 1976, HHMI was incorporated in 1977, and a lawsuit was filed to determine whether it would be allowed to retain its interest in Hughes Aircraft.
In 1984, the court appointed a new HHMI board, which proceeded to sell Hughes Aircraft to General Motors on December 20, 1985, for approximately $5.1 million.
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The new subsidiary consisted of four divisions: Delco Electronics Company, Hughes Aircraft Company, Hughes Space and Communications Company, and Hughes Network Systems.
Many years later, technology was developed to allow more powerful satellites to be built, and digital compression standards (MPEG-2) were developed to allow multiple digital TV channels to be broadcast to a satellite.
Hughes and other companies believed in the 1990s that this technology would make digital satellite television affordable.
Hughes tried to create a joint venture with NBC, News Corp. and Cablevision in 1990, launching the first high-definition digital television service called Sky Cable.
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When that failed, the company instead spun off DirecTV as a separate division and confirmed an agreement with USB to build and launch a high-power satellite broadcast system.
Hughes / DirecTV approached Thomson Consumer Electronics (under the RCA, GE and ProScan brands) to develop a digital satellite service system that could receive 175 channels in a small 18-inch antenna.
These antennas used small, lightweight receivers based on military-grade technology developed by the Global Broadcasting System, which predated DirecTV by nearly t years.
Hughes was awarded the contract to build and launch new high-powered satellites, and USB and DirecTV agreed that the new satellites would carry two different programming services: USB and DirecTV.
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Digital Equipmt Corporation supplied equipment for DirecTV, Matrixx Marketing (a division of Cincinnati Bell) provided customer service for the Matrixx Plus division, and DBS Systems developed the billing software.
In 1999, DirecTV acquired PrimeStar, a competitor in the satellite television industry, for $1.83 billion, significantly increasing its share of the U.S. satellite television market.
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