Analysts at MoffettNathanson LLC, a stock research firm specializing in technology, media and communications, told clients at the time that the third-quarter earnings report was poor, adding, “It has always been said that Dish is likely to face bankruptcy within the next few years. Today’s results are likely to accelerate that.”
As 2024 began, Echo Star merged with Dish. On May 8, Craig Moffett, co-founder of the aforementioned MoffettNathanson, predicted that the most likely outcome for Dish was that it would file for bankruptcy within the next four to six months. With that date looming, the possibility of bankruptcy is not surprising. After all, even Echo Star, in an SEC filing last March, noted that Dish would burn through “significant cash” in the next 12 months and “have a significant cash outlook.” [the company’s] our ability to continue as a going concern.”
Moffett also issued a more recent prediction about Dish, saying, “We believe EchoStar will likely be in bankruptcy, possibly before the end of the year.” To make matters worse, Dish needs to spend $3 billion to complete its 5G network, and there are legitimate questions about whether it can accomplish this before filing for bankruptcy.
