Dish DBS, the EchoStar subsidiary operating Dish Network and Sling TV, plans to file for Chapter 11 bankruptcy as early as Tuesday, June 30.
The restructuring addresses a total debt load of approximately $25 billion. High costs associated with building a national 5G network contributed to the financial strain.
The company faces a consistent decline in its pay-TV customer base due to intense streaming competition. This filing follows a failed merger attempt between EchoStar and rival provider DirecTV.
The Chapter 11 process will facilitate a pre-negotiated restructuring plan with key bondholders.