In his first conference call with analysts since being named CEO, Dish
Network's Joseph Clayton vowed to turnaround net subscriber losses in
the coming quarters, but remained sketchy on details for the satellite
giant's intentions regarding its Blockbuster retail operations and its
burgeoning wireless assets.
Clayton, who joined Dish
is June, called the satellite giant's second quarter results "murky,"
marred by heavy discounting from competitors, a monthly price increase
it implemented during the quarter and a reduction in marketing spend. As
a result, Dish lost 135,000 net subscribers in the period, well above
analysts' consensus estimates of a loss of 31,000 net customers.
"There
is no question that pay television growth has slowed dramatically,"
Clayton said. "The market is becoming increasingly saturated. Industry
double-digit growth rates have passed."
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