Dish Network Makes $25 Billion Bid For Sprint | WAMU 88.5 - American University Radio

NPR : News

Filed Under:

Dish Network Makes $25 Billion Bid For Sprint

Satellite TV distributor Dish Network has offered to buy telecom giant Sprint Nextel Corp. in a $25.5 billion deal, a move that could derail a similar offer by the Japanese phone company SoftBank.

Dish says that it has offered $17.3 billion in cash and $8.2 billion in stock for Sprint. After the news was announced on Monday, Sprint's stock jumped 15 percent in pre-market trading, according to The Associated Press.

Dish, of Englewood, Colo., says its offer is a 13 percent premium on the October SoftBank offer to buy 70 percent of Sprint for $20 billion, according to The Wall Street Journal. Dish also says its proposal would result in an estimated cost savings of $11 billion, the AP says.

"Sprint is in play," Dish Chairman Charles Ergen said in an interview with the WSJ in New York. "We think we've made an offer that's much more compelling than the Softbank transaction."

According to the WSJ:

"The unsolicited offer is Mr. Ergen's most audacious attempt yet to move from the slow-growing pay-television business into the fast-evolving wireless industry. The satellite TV pioneer eased into the industry by amassing spectrum and winning approval from regulators last year to use it to offer land-based mobile-phone service. But he lacks much of the rest of the operation, including a cell phone network, which would be costly and time-consuming to build.

Combining his company with Sprint would allow Dish to offer video, high-speed Internet and voice service across the country in one package whether people are at home or out and about, Mr. Ergen said. People who don't have access to broadband from a cable company would be able to sign up for Internet service delivered wirelessly from Sprint cellphone towers to an antenna installed on their roof, Mr. Ergen said."

Copyright 2013 NPR. To see more, visit http://www.npr.org/.

WAMU 88.5

Art Beat With Lauren Landau, Sept. 16

A local theater company takes on a classic story about identity and alienation, and a sculptor looks beneath the surface in her latest body of work.

NPR

'Language Of Food' Reveals Mysteries Of Menu Words And Ketchup

Linguist Dan Jurafsky uncovers the fishy origins of ketchup and how it forces us to rethink global history. He also teaches us how to read a menu to figure out how much a restaurant may charge.
NPR

How To Measure Success Against The New Monster In The Middle East?

But most Americans are far from clear as to what this "ISIL" monster is, other than a few shadowy, portentous figures on disturbing videotapes.
NPR

Minecraft's Business Model: A Video Game That Leaves You Alone

Microsoft is buying the company that created the video game Minecraft, which has a loyal following in part because of the freedom it allows players — including freedom from pressure to buy add-ons.

Leave a Comment

Help keep the conversation civil. Please refer to our Terms of Use and Code of Conduct before posting your comments.