DISH And AT&T Done; Agreement Terminates At End Of The Year
This story was written by Joseph Weisenthal.
As anticipated, AT&T (NYSE: T) will not renew its resale agreement with DISH at the end of the year, according to a regulatory filing made by the satellite operator this evening. In a terse statement, it says that the agreement, originally established in 2003, will end Dec. 31, 2008. The prospect of this move was heightened last month when AT&T demanded immediate payment on a DISH convertible note, signaling AT&T's diminished interest in a long-term relationship. The winner: Most likely DirecTV (NYSE: DTV). AT&T already had a reseller agreement with it, and now it can re-establish that. Shares of DISH are down almost 3 percent after hours.
By Joseph Weisenthal