Dish Network, a wholly owned subsidiary of EchoStar Corporation, announced a new carriage agreement with Gray Media that restores 226 local television stations across 113 U.S. markets. The deal brings a broad mix of network and local stations—including ABC, CBS, FOX, NBC, CW, MyNetworkTV, and Telemundo—back to Dish’s satellite and streaming platforms, expanding the content lineup available to its customers.
The agreement resolves a blackout that began on March 10, 2026, when Gray Media’s channels were removed from Dish’s lineup amid a carriage‑fee dispute. The blackout had caused significant customer dissatisfaction and contributed to a combined loss of 636,000 pay‑TV subscribers in 2025 for Dish TV and Sling TV. Restoring the local channels is expected to stabilize subscriber retention and reduce churn, addressing a key vulnerability in Dish’s pay‑TV business.
EchoStar’s broader financial picture underscores the strategic importance of the deal. The company is slated to report Q1 2026 earnings on May 7, with analysts projecting an EPS loss of $0.87 and revenue of $3.65 billion. In Q4 2025, EchoStar posted an EPS of –$0.70, beating expectations of –$0.78. The company is also undergoing debt restructuring and is refocusing resources on wireless and satellite growth, where it sees higher margin opportunities.
Management emphasized the deal’s significance. Kevin Covell, Senior Vice President of DISH Video Services, said the long‑term agreement “has been a relief for our customers and a positive step toward maintaining our competitive edge.” The carriage deal aligns with EchoStar’s strategy to strengthen its pay‑TV and streaming businesses while leveraging its satellite infrastructure, positioning the company to better fund its wireless and satellite initiatives in a market where local‑channel blackouts increasingly threaten subscriber bases.
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