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Dish Chairman: We can't afford a DirecTV bid

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Dish Network Chairman Charlie Ergen said the satellite TV company would not make a move for competitor DirecTV because the price would be too high, even though a combination of the two companies would have high synergies.

"DirecTV would be too frothy for us, for our board to look at, at those kind of prices," Ergen said on a conference call on Thursday after the company reported first quarter results.

Watch: Disney CEO talks Dish deal

Ergen was referring to media reports saying AT&T and DirecTV were weighing a tie-up.

He also said Dish was not in a position to outbid Sprint should it make a move for smaller rival T-Mobile but if Sprint did not proceed, T-Mobile US would be of strategic interest to Dish.