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Dish Network Is Latest Stock to Benefit From SoftBank Rumor

Shares of Dish were up a mild 2 percent on Tuesday.

Rumors of SoftBank’s interest in acquiring a U.S. television company are causing another stock to rise — this time it’s Dish Network.

Last week, SoftBank was reportedly interested in merging its Sprint telephone company with Charter Communications, a news item that had Charter shares leaping 5 percent in a day.

Now it’s Dish that reportedly piques the interest of SoftBank, also as a partner for Sprint, though shares of Dish were up a more mild 2 percent on Tuesday.

Charter’s market cap is about $96 billion, while Dish is at a more manageable $31 billion, less than Sprint’s $35 billion market cap.

Sprint is also trying to merge with T-Mobile, though those discussions are moving slowly.

All this merger talk is also boosting Sprint, as the stock jumped 11 percent to $8.86 on Tuesday.

Softbank is a Japanese conglomerate with stakes in technology, finance and media companies, including in Alibaba Group, GungHo Online Entertainment, Yahoo! Japan and a Japanese baseball team.

Shares of Dish closed $1.46 higher on Tuesday to $65.49.

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Written by Anadkat Madhav

I am a software engineer, project manager, and Mobile Application Developer currently living in Rajkot, India. My interests range from technology to entrepreneurship. I am also interested in programming, web development, design, Mobile Application development.

You can also contact me through my website
madhavanadkat.com

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