Ergen Could Be Serious About SiriusBy
No one is a bigger tightwad than Charlie Ergen. The 55-year-old Ergen, a poker-playing former financial analyst for Frito-Lay (PEP), got his start in satellite TV by selling one of those giant backyard dishes from the back of a pickup. Even after he built Dish Network (DISH) into the fastest-growing satellite TV company, he insisted that even his top executives fly coach and stay two to a hotel room when traveling. So it's no surprise that Ergen saw opportunity in scooping up debt held by the troubled satellite radio company Sirius XM (SIRI). Wall Street sources say Ergen bought the bonds on the cheap as a possible precursor to a takeover. Talk about a skinflint entrÉe to a new, if struggling, business.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.
- Fewest Jobless Claims Since 1973 Show Firm U.S. Job Market
- Germans Are Going Wild for a Show Set During the Dawn of the Nazis
- Greenwich Mansion Listings Pulled to Wait for a Better Day
- The U.K.'s $86 Billion Pension Problem Is About to Solve Itself
- U.S. Senate Adopts Budget, Giving Momentum to Trump's Tax-Cut Plans