Dish Offers Up $25.5B to Buy Sprint

...Even though SoftBank already has a deal to buy it
By Kevin Spak,  Newser Staff
Posted Apr 15, 2013 7:42 AM CDT
Three Dish Network satellite dishes are shown at an apartment complex in Palo Alto, Calif. Dish Network is offering to buy Sprint Nextel Corp. in a cash-and-stock deal it values at $25.5 billion.   (AP Photo/Paul Sakuma, File)

(Newser) – Dish Network wants to buy Sprint Nextel for $25.5 billion, the satellite TV company publicly declared today, in what the Wall Street Journal calls Dish's "most audacious attempt yet" to jump into the wireless business. The bid is unsolicited, which makes sense, given that Sprint already has a deal in place to be acquired by Japan's SoftBank. But Dish says its deal trounces SoftBank's complicated $20.1 billion offer.

"Sprint is in play," Dish's chairman says. "We think we've made an offer that's much more compelling." Dish has been dipping its toes into telecom over the past year, acquiring spectrum and earning regulator approval for land-based mobile phone service. (Read more Sprint stories.)

My Take on This Story
Show results without voting  |