By Will Feuer

Shares of Dish Network and EchoStar rose after the Federal Communications Commission on Wednesday signed off on the planned merger of the two companies, both controlled by Charlie Ergen.

Dish shares climbed 6.7 to $4.22 in Thursday morning trading. Shares are still down almost 70% this year.

EchoStar shares rose 5.7% to $12.05. The stock is down about 27% this year.

The "approval removes the biggest hurdle to closing; perhaps the only hurdle," NewStreet Research analyst Jonathan Chaplin said. "Closing the deal will remove the biggest hurdle to Dish being funded through 2024."

Write to Will Feuer at Will.Feuer@wsj.com

(END) Dow Jones Newswires

December 07, 2023 11:41 ET (16:41 GMT)

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