On Friday, Dish Network (NASDAQ:DISH) and its Blockbuster Unit are expected to announce their new video streaming service set to directly compete with the struggling Netflix (NASDAQ:NFLX). The company notified the media today about the news in a press invite. It didn’t include any details of the new service but the press conference is scheduled for 10 a.m. PT and is expected to address subscriptions costs among other information.
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Netflix (NASDAQ:NFLX) is facing price hikes and recently announced a separation of its DVD and streaming business. Its stock has fallen dramatically in the last four days from the news. With the new service by Dish and Blockbuster, the company hopes it will increase its base of viewers and take advantage of prices currently offered by Netflix.
Dish’s stock (NASDAQ:DISH) is up 0.18 % to 27.31 on the news. Shares are up 30.06% year to date. The stock has traded in a 52-week range between $17.95 and $32.56.