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Vivendi Drains EchoStar Earnings

By Multi Channel News Staff -- Multichannel News, 11/15/2002 9:00:00 AM

EchoStar Communications Corp.'s third-quarter revenue jumped 20 percent to $1.22 billion, but the company reported a $168 million net loss for the quarter, which included a $134 million charge tied to an increase in investor Vivendi Universal's contingent-value rights.

For the same quarter last year, the direct-broadcast satellite company reported $3 million in net income.

EchoStar picked up 320,000 net new subscribers, expanding its subscriber base to 7.78 million.

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