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Dish Network is set to launch on the S&P 500.
The pay-TV provider will replace Linear Technology on the S&P 500 and reside in the index’s consumer discretionary sector, S&P Dow Jones Indices said in a statement on Monday. The changeover will take place prior to market open on March 13.
Semiconductor maker Linear Technology, which was part of the S&P 500′s information technology sector, is being shuffled off following its acquisition by S&P 500 constituent Analog Devices, in a cash-and-stock deal announced last year that values the group at $14.8bn.
The S&P 500 comprises large-cap US equities and includes about 500 leading companies covering approximately 80 per cent of available market capitalisation, according to its website.