- Dish Network (DISH -4.9%) CEO Charlie Ergen told analysts on the company's earnings call this morning that a bid for DirecTV (DTV -4.2%) would be too expensive despite the considerable synergies that could be derived from a combination.
- Ergen did give some hints on what he thinks would be a good strategy. "I wasn’t a very good poker player but when a bunch of drunken fools were throwing money around occasionally I was able to pick up the pot at the end of the day," noted the exec.
- Shares of both satellite pay-TV providers are off today with Ergen throwing a wet towel on merger speculation.
- Earnings call transcript