President Donald Trump said on Monday that China is ready to come back to the negotiating table and the two countries will start talking very seriously.Politicsread more
The escalating trade war between Washington and Beijing dominated discussions at the G-7 gathering in France.Politicsread more
The latest round of tariff announcements in the last few days means that by the end of the year, essentially all Chinese goods exported to the U.S. will be subject to duties.China Economyread more
Futures fell after Trump said the U.S. will raise tariffs on more than $500 billion worth of Chinese imports, increasing trade tensions.Marketsread more
As Washington and Beijing continue to up the ante in their protracted trade fight, the potential of a recession in the U.S. is now "the biggest concern," according to Standard...US Economyread more
Tensions stemming from the U.S.-China trade war escalated sharply over the last few days, with much happening as Asian markets were shut down for the weekend.China Economyread more
Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.Politicsread more
Neither the U.S. nor China wants to be seen as the party that derailed trade talks, says William Reinsch of Center for Strategic and International Studies.World Economyread more
China said Friday it will be resuming 25% duties on U.S. autos, and a further 5% on auto parts and components.Asia Marketsread more
World leaders, environmental groups and celebrities have publicly decried the vast swaths of forest being destroyed by the fires.World Newsread more
Education Minister Ong Ye Kung says the Singapore government has been preparing for the challenge of an aging workforce "for the past 20 years."Employmentread more
WHEN: TODAY, WEDNESDAY, March 25, 2015
WHERE: CNBC'S "SQUAWK ON THE STREET "
Following are excerpts from the unofficial transcript of a CNBC EXCLUSIVE interview with Dish Network Chairman & Incoming CEO Charlie Ergen today on CNBC's "Squawk on the Street." Video of the interview is available on CNBC.com.
All references must be sourced to CNBC.
Ergen on Spectrum Long Term:
WHATEVER WE DO WITH OUR SPECTRUM, IT WILL BE FOR THE LONG-TERM VALUE CREATION WE THINK WE CAN GET. WE'RE LONG-TERM PLAYERS, ONE OF THE GREAT ADVANTAGES WE HAVE, WE STARTED BUYING SPECTRUM SIX OR SEVEN YEARS AGO THE MARKET DIDN'T LIKE THAT, AND OUR STOCK WENT DOWN. SIX OR SEVEN YEARS LATER PEOPLE REALIZE THE VALUE OF THE SPECTRUM AND STOCK GOES UP. HAD WE NOT DONE THAT, WE WOULD HAVE NO OPTION BUT TO SELL OUR COMPANY.
Ergen on Comcast TWC Deal:
I THINK IT SHOULD BE BLOCKED. AND THE REASON IS I DON'T THINK YOU CAN TAKE THAT CONNECTIVITY, YOU CAN'T GIVE ONE COMPANY OVER A MAJORITY OF THE HOMES IN THE UNITED STATES FOR THAT HIGH SPEED BROADBAND ACCESS. SO EVERN WHEN YOU TRY TO COMPETE WITH THINGS LIKE DISH NETWORK OR NOW SLING TV, YOU -- SLING TV STILL NEEDS THAT CONNECTIVITY TO THE HOUSE THEY NEED THAT BROADBAND CONNECTION THAT HIGH SPEED CONNECTION. IN THAT MERGER, OVER 50% OF THAT WOULD BE CONTROLLED BY COMCAST.
Ergen on Downlink Opportunities:
WE'RE ABLE TO NOW HAVE THE OPTION TO GO ALL DOWNLINK WITH OUR EXISTING SPECTRUM AND OBVIOUSLY DOWNLINK IS MORE VALUABLE – IN FACT WE HAVE AS MUCH DOWNLINK SPECTRUM AS VERIZON DOES, SO THAT GIVES US SOMETHING. THEN THERE'S INTEROPERABILITY - YOU CANT ENTER THE MARKET PLACE IF YOUR SPECTRUMS NOT IN THE HANDSET. OBVIOUSLY OUR SPECTRUM IS NOT IN HANDSETS TODAY SO WITH INTEROPABILITY, PARTICULARLY IN THE AWS-3 SPECTRUM, AS A MANDATE BY THE FCC THAT GIVES US A LOT MORE FLEXIBILITY THAN WE HAD BEFORE.
Ergen on Sling TV:
WE'RE IN OUR 6TH WEEK AND CERTAINLY OUR RESULTS OUR ENCOURAGING. WE'RE IN A MARKETPLACE THAT UP UNTIL A FEW YEARS AGO EVERYTHING WAS A BIG BUNDLE YOURE PAYING ALMOST 100 DOLLARS/MONTH AS A CONSUMER, YOURE BUYING A LOT OF CHANNELS YOU DON'T WANT AND SO AS A RESULT WE WENT A WHOLE GENERATION THAT HASN'T BECOME PAID TV SUBSCRIBERS. WE HAVE MILLIONS OF PEOPLE WHO HAVE CUT THE CORD OR ARE GOING TO OTHER SEGMENTS LIKE YOUTUBE, NETFLIX, SO FORTH. SO WITH OUR PROGRAMMING PARTNERS WE'VE SAID WHY DON'T WE GO GET SOME OF THOSE PEOPLE THAT HAVEN'T BEEN IN THE BUSINESS BEFORE AND IN SOME CASES GIVE CHOICE TO PEOPLE WHO MIGHT BE READY TO CUT THE CORD.
Ergen on Cannibalizing Business:
IT WILL CANNABILIZE OUR BUSINESS THERES NO QUESTION ABOUT IT - ITS AN INNOVATORS DELIMA, DO YOU NOT TAKE NEW TECHNOLOGY AND INVEST IN NEW TECH TO PROTECT YOUR OLD TECHNOLOGY. WE VIEW THAT WE HAVE TO DO THAT. WE HAVE TO REINVENT OURSELF, WE HAVE TO TRANSFORM OUR COMPANY. THE VAST MAJORITY OF OUR CUSTOMERS TODAY ARE PEOPLE WHO ARE NOT IN THE PAID TV UNIVERSE TODAY, SO ITS INCREMENTAL BUSINES TO OUR PROGRAMMING PARTNERS AND BETTER YET IT'S A BETTER ADVERTISING MODEL FOR THEM.
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