I think that DISH was talking about that spin off only because it was a way to give Charlie more value in the merger scenario. No merger, no need for a spin off. By himself, Charlie needs his crack engineering staff to make sure he meets any hardware challenges and so that he can keep his birds going up.
Also, it will take until at least 1999 for the News Corp thing to get resolved. DISH looks at that as money in the bank. If you go back through DISH's SEC filings, you can find a copy of the letter agreement that outlines the terms of the merger. I am NOT A LAWYER, but to the uninitiated, it seems pretty airtight. DISH is suing for $5b, but if they keep being as successful as they are, they may get ONLY $1b, since they will meet many of their business plan goals anyway.
Still, I think that other firms will look at Murdoch's mis-step and be reluctant to partner with Charlie, lest they make the same mistake...
NOEL |
