Dish probably came out ahead by purchasing the entire company rather than letting Icahn win and then buying the relevant assets. If Icahn was chasing it, there was real-estate value there.
And that appears to be the case when one considers that Dish only paid $190k per store. Based on $20k per store per year that's a 11% cap rate - and the worst performing locations have already been culled from the portfolio. Consider that $20k per store per year can probably be achieved with less than 10 Dish network subscription sales per month and the deal for corporate controlled retail locations makes more sense.
All the rest of it - the streaming and content deals, kiosks, etc. is just more upside.
