Dish Network’s stock price was up on Friday (10/14). That could well have been because of an announcement late Thursday that Hulu was no longer for sale.
Dish Network was known to be a bidder for Hulu and reportedly came close to the asking price of $2 billion. But the sale talks apparently ended because of the content deal terms demanded by the would-be buyers of Hulu’s owners, including NBCUniversal, Disney and News Corporation.
“According to our conversations, we don’t think the investment community quite understood (or liked) DISH’s potential acquisition of Hulu, especially given that the company already has access to such content via its linear DISH Network. Now that such sale has been pulled, we think an overhang on DISH stock has been alleviated,” wrote Wells Fargo Securities analyst Marci Ryvicker in a note to clients.
Ryvicker has an “outperform” rating on Dish Network’s stock.
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