NSR Policy: Follow Up on ACP
We began this year by noting that while Presidential election years are usually devoid of market-impacting policy events (other than the election), but that 2024 would be different. Last week demonstrated that with three market-impacting news cycle. The first involved the recognition that the Affordable Connectivity Program is likely to end in 2Q. The second involved another Wall Street Journal story on lead in telecom networks. Both caused billion-dollar losses in market caps, the first understandably, while the second, in our view, was more questionable. The third involved complicated internal financial transactions related to DISH and its spectrum. While that has been well covered by our colleague Jonathan Chaplin but we note that implicit in all these transactions are implicit beliefs in what the government thinks about transactions involving DISH.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.
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.