Still, given Ergen's streak for innovation and disruption of seemingly high-barrier industries, there are some who would want to support his ambition. Piecyk noted the wireless spectrum Dish brings to a potential deal, in addition to a new nationwide content service that could bolster the growth of streaming services such as
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"Ergen could deliver an integrated package that actually benefits from the content usage of that customer. The industry should fear Ergen more than Softbank and we think he can attract a cash equity partner," wrote Piecyk.
Given NTT DoCoMo's competition with SoftBank and its cash stockpile, DirecTV's prospective competitive disadvantage and AT&T's attempts to bolster its wireless service, Piecyk highlighted all three companies as potential partners.
Apple or Google, which is in the midst of a fiber product launch, could also bankroll Dish's wireless ambition, according to Piecyk's analysis.
Piecyk of BTIG isn't the first to see Dish's well-telegraphed efforts to enter the wireless market as possibly attracting strategic partners.
highlighted Dish Network as a strong if unconventional candidate for the so-called elephant M&A guns of Warren Buffett-run
-- Written by Antoine Gara in New York.