Shares of EchoStar, which recently merged with Dish Network, surged after the telecommunications company said it has hired advisers to help evaluate potential strategic alternatives, WSJ Pro Bankruptcy reported. The company said it has hired investment bank Houlihan Lokey and law firm White & Case to assist the company in the evaluation process. Its shares recently were up 35% to $17.15. EchoStar, helmed by Chairman Charlie Ergen, recently closed its merger with its sister company Dish Network. The combined company encompasses pay-TV assets, Dish’s burgeoning wireless network and EchoStar’s satellite operations. The merger gave the combined company access to more cash to fund the build-out of Dish’s 5G network. EchoStar yesterday also said that Dish had transferred some of its unencumbered wireless spectrum licenses to a new subsidiary, called EchoStar Wireless Holding. Dish also created another new entity known as the DBS Subscriber Subsidiary, which now holds about 3 million Dish TV subscribers, EchoStar said.
