Dish bought Boost Mobile (when T-Mobile was forced to spin them off) and it hasn’t been going well – and it may be leading to Dish bankruptcy.
Late last year, Dish re-merged with EchoStar to give the company a monetary boost, but the Q4 numbers are telling the story:
- Boost Mobile lost 123,000 customers
- Retail Wireless revenue dropped from $30 million
- Bloomberg reported Dish has $21 billion in debt from building out the 5G network.
- In an SEC filing, EchoStar’s auditors stated there is “substantial doubt about its ability to continue as a going concern” and highlighted an expectation by the company that it will “use a substantial amount of cash in the next 12 months”.
- In the filing, the company noted a threat to its future 5G network plans if it cannot raise additional funding.
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