Dish Bags Attempt to Buy Sprint
Dish Networks today offered an update on its bid to acquire Sprint. According to Dish, Sprint's recent legal actions have caused Dish to reevaluate its plans moving forward. It will drop its proposed acquisition of Sprint and will instead concentrate on acquiring Clearwire. "While Dish continues to see strategic value in a merger with Sprint, the decisions made by Sprint to prematurely terminate our due diligence process and accept extreme deal protections in its revised agreement with SoftBank, among other things, have made it impracticable for Dish to submit a revised offer by the June 18th deadline imposed by Sprint. We will consider our options with respect to Sprint, and focus our efforts and resources on completing the Clearwire tender offer." Sprint filed a lawsuit against Dish on Monday seeking to block its bid to acquire Clearwire, calling the proposal illegal.
Verizon Not Interested In Buying Dish
Verizon does not plan to purchase Dish Networks, according to CFO Fran Shammo. When asked by the Wall Street Journal, Shammo responded, "My answer is going to be one word: No." AT&T is near to closing its acquisition of Dish competitor DirecTV.
Dish Says It Will Bid On 600MHz Spectrum
Dish Networks has told the FCC it intends to "meaningfully participate" in the reverse auction for 600MHz airwaves scheduled for next year. "The incentive auction offers opportunities for competitive providers and new entrants to bid on and win much-needed lowband spectrum, which will facilitate the deployment of mobile broadband services," said Dish Senior Vice President Jeffrey Blum in the filing with the agency.
FCC Commish Calls to Question Dish's Auction Discounts
FCC Commissioner Ajit Pai is objecting to Dish Networks' claim on more than $3 billion in discounts in the recently closed AWS-3 spectrum auction. Dish did not bid directly on any spectrum.
Verizon Annoyed By Dish's AWS-3 Bidding Tactics
Like AT&T, Verizon Wireless is upset with the tactics used by Dish Networks in the recent AWS-3 spectrum auction. It accused the firm of artificially raising prices by creating perceived demand where in fact there was none.
Dish Seeking Cash for Possible T-Mobile Deal
Dish Networks is discussing loans of $10 to $15 billion with banks, reports the Wall Street Journal, which it would use to finance a merger with or acquisition of T-Mobile. Dish and T-Mobile are believed to be holding merger talks, though a deal is not imminent.