Dish Network bids $25.5 billion for Sprint

Dish Network bids $25.5 billion for Sprint
Early this morning, satellite TV provider Dish Network made a large $25.5 billion bid for Sprint Nextel, besting an existing offer from Japanese carrier Softbank.

The company, which has been hoarding cash for a large acquisition, would use Sprint as a compliment to its current offerings, bundling TV, Internet and wireless phone services.

During a conference call, Dish Chairman Charlie Ergen said "consumers have two necessities in life; food and shelter. But after that, you probably get to your mobile device and your TV as three and four. . . . You want to be able to be connected no matter where you are, and you want to be able to watch your television no matter where you are."

Dish offered $17.3 billion in cash and an additional $8.2 billion in stock for complete control of the company. Softbank offered $20 billion for a 70 percent stake.

While the satellite company has 14 million customers, the merger would give it access to Sprint's 55 million customers, opening up a huge market for potential satellite services sales. Additionally, the company would get access to Sprint's spectrum and airwaves.

Written by: Andre Yoskowitz @ 15 Apr 2013 22:26
satellite Sprint Merger Dish Network
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  • molsen

    Trying to be diverse, is not a bad play. However, DISH should focus more on their bread and butter of sat service. DISh lost some great channels, because they did not want to dip into their profits.

    17.4.2013 06:33 #1

  • PraisesToAllah

    Dish is trying to bid for Sprint and merge with T-Mobile? Desperation at its finest.

    17.4.2013 14:59 #2

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