DISH Challenge to Venu Succeeds: What’s Next?
This morning, we published a note on DISH’s challenge to the Venu Joint Venture. We discussed the implications of DISH’s letter to the District Court Judge who had been overseeing the case accusing the defendants of having “purchased their way out of their antitrust violation.” The letter pointed to how the joint venture harms MVPDs like DISH by forcing DISH (or Sling) to offer big bundles while offering their own “skinny” packages. The letter concluded by saying that “EchoStar is currently evaluating its options regarding the joint venture, its harm to competition, and the Defendant’s tying practices. EchoStar asks the Court to resist any effort by the Defendants to vacate any prior decision in this case.” As we said in our note, the Venu antitrust issue, even though the case was formally dismissed, was not over. Shortly after we published, the Venu joint venture partners announced that they were ending the Venu joint venture. In this follow up, we have a few more thoughts on the implications for investors.DISH Network is a holding company. Through its subsidiaries, the company operates two business segments: Pay-TV and Wireless. The company provides pay-TV services under: the DISH? brand, which consists of, among other things, Federal Communications Commission licenses authorizing the company to use direct broadcast satellite and Fixed Satellite Service spectrum, the company's owned and leased satellites, and certain other assets utilized in the company's operations; and the Sling? brand, which consists of, among other things, live-linear streaming over-the-top Internet-based domestic, international and Latino video programming services. In addition, the company invests to acquire certain wireless spectrum licenses and related assets.
Walt Disney is an entertainment company. The company's segments are: Media Networks, which includes domestic cable networks, broadcast television network and domestic television stations, and television production and distribution; Parks, Experiences and Products, which includes theme parks and resorts, and consumer products operations; Studio Entertainment, which includes motion picture production and distribution, music production and distribution, and post-production services; and Direct-to-Consumer and International, which includes international television networks and channels, direct-to-consumer streaming services, and other digital content distribution platforms and services.
Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.
New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:
- Pan European Telecom Services and Cable
- US Telecoms, Cable, Satellite and Towers
- Global Emerging Market Telecoms
- Japan Telecoms
- Asian Internet
- Pan European Healthcare
- Global healthcare thematic research
We provide debt research on:
- Pan European Telecom Services and Cable
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.