Shares of Dish Network (NASDAQ: DISH) were taking a dive today after the satellite TV company badly missed estimates on the bottom line and announced the surprise resignation of CEO Erik Carlson. Hamid Akhavan, the CEO of , will be the CEO of Dish as the two companies look forward to an upcoming merger.

The stock was down 33.9% as of 2:29 p.m. ET on the news.

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Source Fool.com