Deal will further strengthen Liberty’s presence in the Caribbean

Liberty Latin America, parent company to FLOW Jamaica, has bought a portion of Dish Network’s assets in Puerto Rico and the US Virgin Islands.

The transaction involves an unspecified amount of spectrum and the transfer of approximately 120,000 prepaid customer accounts in exchange for US$256 million. The deal provides much-needed financial relief for Dish Network, as it grapples with a debt of US$21 billion.

Around US$5 billion of this debt is due for repayment within the next two years. This acquisition will further strengthen Liberty’s presence in the Caribbean, where it has established itself as a telecoms giant since 2015 when it purchased regional rival Cable & Wireless in a staggering US$5.5 billion deal.

A senior VP at Liberty has explained that the acquired assets will enhance network capacity, boost speed, and reinforce their 5G mobile infrastructure. Operating telecommunications networks in the Caribbean poses significant challenges due to high costs and the region’s vulnerability to hurricanes.

Dish Network’s share price hit an all-time low this month following the announcement of a US$139 million net loss for the third quarter. The company boasts over 7.5 million wireless subscribers across the US and the Caribbean, but its subscriber base has been steadily declining in recent months.

In the last quarter alone, Dish Network lost 225,000 wireless subscribers.