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EchoStar Takes $308 Million Q3 Hit

Dish Network spin-off’s loss widens.

By Linda Moss -- Multichannel News -- Broadcasting & Cable, 11/10/2008 7:27:00 AM

EchoStar, Charlie Ergen’s spin-off set-top and fixed-satellite unit, posted a net loss of $308 million in the third quarter, compared with a $7 million deficit a year ago, officials said Monday

“The $301 million increase in net loss primarily related to unrealized losses and impairments on marketable and non-marketable securities,” EchoStar said in a press release. “Basic loss per share was $3.43 for the quarter ended Sept. 30, 2008, compared with a basic loss per share of seven cents during the corresponding period in 2007.

Click here to read the complete article on www.multichannel.com.

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