Dish and Echostar to merge

The communications satellite company Echostar is now merging with the direct broadcast company Dish. From the press release:

The transaction combines DISH Network’s satellite technology, streaming services and nationwide 5G network with EchoStar’s premier satellite communications solutions, creating a global leader in terrestrial and non-terrestrial wireless connectivity. Both companies have strong momentum, highlighted by DISH’s 5G wireless network that now covers more than 70 percent of the U.S. with full commercialization underway and the successful launch of EchoStar’s JUPITER 3 satellite with significant available capacity for converged terrestrial and non-terrestrial services. The combined company will be well-positioned to deliver a broad set of communication and content distribution capabilities, accelerating the delivery of satellite and wireless connectivity solutions desired by customers.

This merger is I think part of the consolidation that is going on among the older players in the communications satellite industry as they struggle to deal with the competition from the new satellites constellations of Starlink and OneWeb.