As mentioned here yesterday, Dish Network continues to be the subject of takeover speculation by AT&T. Shares of Dish Network soared today, closing up $7.66 or more than 19% to $47.49. AT&T shares fell $1.80 or about 4.5% to $37.75 at the close of trading.
Speculation is that AT&T is motivated to move quickly to ensure it can get any deal reviewed as quickly as possible. Regulators will certainly take a close look at the proposed deal, however with the presidential election next year, AT&T could be looking at a different regulatory environment after President Bush leaves the White House in January of 2009.
Dish Network has floundered in recent months, as DirecTV has bypassed Dish in HDTV and sports programming. Speculation on the future of Dish Network was also fueled by a note from Citigroup analyst Jason Bazinet which put the odds of a takeover at 65% over the next 12 months.
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