DISH Network makes bid to buy Sprint out from under SoftBank

DISH Network makes bid to buy Sprint out from under SoftBank

DISH Network has launched a $25.5 billion bid to merge with Sprint. Although Japanese carrier SoftBank is currently preparing to purchase Sprint, shareholders for the third-place U.S. carrier would have the opportunity to reject that bid in favor of DISH Network’s. DISH Chairman Charles Ergen says that this deal hopes to create a first-of-its-kind nation-wide integrated bundle of home and mobile broadband services:

A transformative DISH/Sprint merger will create the only company that can offer customers a convenient, fully-integrated, nationwide bundle of in- and out-of-home video, broadband and voice services. Additionally, the combined national footprints and scale will allow DISH/Sprint to bring improved broadband services to millions of homes with inferior or no access to competitive broadband services.

DISH is confident that it can raise the money necessary to make this deal. If their bid is successful, they will need to pay fee for derailing the SoftBank purchase. DISH also expects that a merger with Sprint will result in growth opportunities of $37 billion, with $11 billion in cost-saving measures. DISH been looking to expand into wireless broadband recently, securing permission from the FCC in December to build its own LTE network. If they are successful in purchasing Sprint, they’ll no longer need to build out their own network, instead moving resources to aid in the expansion of Sprint’s LTE, which currently offers coverage to a smaller number of customers than Verizon and AT&T. Sprint’s shareholders will make the decision on the proposal in the coming months.

Source: Business Wire

Joseph Keller

Joseph Keller is a news reporter for iMore. He's also chilling out and having a sandwich.

More Posts

 

2
loading...
0
loading...
66
loading...
0
loading...

← Previously

Candy Crush Saga: It's Bejeweled for ruining your life

Next up →

How to disable access to certain areas of the screen with Guided Access for iPhone and iPad

There are 8 comments. Add yours.

Behshad says:

Sounds like Charlie is up to something , wanting more $$$ ;)

kwp217 says:

One bad company buying another one. Looks like Sprint will remain horrible! I'll stay with Big Red. You get what you pay for, with a strong signal.

Behshad says:

Exactly what makes Dish a crappy company ?
I have had Dish for 15 years now and their customer service is top notch.
They may be a bit pricey but they offer the best . Back when HD was new, they had more HD channels available than anyone else. They purchased Sling company and added that neat feature into their recievers and with the new Hopper, it's hard to find any other competitor that can match Dish when it comes to technology.

Derrick4Real says:

seems like this has dragged on a long time.

antfelici says:

I wonder if it would make a difference with Sprint's crappy service.

GlennRuss says:

Going from bad to worse. Just like Comcast, or the rest.

asuperstarr says:

Those two companies go hand and hand. No surprise by this one. I guess we will have to wait and see what happens.