AT&T Carriage Fight a No-Win Situation for Dish, MoffettNathanson Says

Dish Network is in a no-win situation in its carriage dispute with AT&T over HBO and Cinemax, MoffettNathanson analyst Craig Moffett wrote investors Friday. The blackout (see 1811010016), alongside the ongoing Univision impasse and following others, adds up to a "steady drip, drip, drip of lost programming" and "sends a rather unsettling message" that Dish is gradually getting out of the video business, he said: A prolonged HBO/Cinemax blackout will cost Dish subscribers, but acquiescing to AT&T terms would result in "already unattractive economics get[ting] even more unattractive." Dish didn't comment. Its quarterly earnings call with analysts and the news media is scheduled for Wednesday.