Dish abandons Sprint acquisition efforts

Jun 21, 2013 by The Associated Press

Satellite TV operator Dish Network Corp. is officially abandoning its efforts to acquire Sprint Nextel Corp.

The Englewood, Colo., company filed regulatory documents Friday formalizing the retreat it announced earlier this week. The move leaves Sprint free to accept what it considers a superior offer from Japan's Softback.

Dish and Softbank were competing to acquire the wireless carrier since April. Sprint opted for Softbank's $21.6 billion offer for 78 percent of the company, versus Dish's $25.5 billion bid for all of Sprint.

In the filing, Dish said it has abandoned its efforts and plans to redeem $2.6 million in outstanding senior debt.

Dish previously said it will continue to focus on its bid for Clearwire, a wireless network operator in which Sprint has a majority stake.

Explore further: Sprint to listen to Dish offer

not rated yet
add to favorites email to friend print save as pdf

Related Stories

Sprint to listen to Dish offer

May 21, 2013

Wireless company Sprint Nextel Corp. says it can now let Dish Network Corp. see its books and talk with Dish to see whether its competing offer to buy Sprint is better than its current deal with Japan's SoftBank.

Dish won't submit revised bid for Sprint

Jun 19, 2013

Satellite TV operator Dish Network Corp. said Tuesday it would not submit a revised bid for Sprint, leaving the path open for the wireless carrier to accept what it already considers a superior offer from Japan's Softbank.

Dish tops Sprint's bid for Clearwire ahead of vote

May 30, 2013

Satellite TV operator Dish Network has raised its bid for Clearwire Corp., valuing the wireless network operator at $6.9 billion, in an attempt to outbid Sprint Nextel Corp. two days before Clearwire shareholders are meeting ...

Recommended for you

Internet TV case: US justices skeptical, concerned

11 hours ago

Grappling with fast-changing technology, U.S. Supreme Court justices debated Tuesday whether they can protect the copyrights of TV broadcasters to the shows they send out without strangling innovations in ...

Hundreds in Mexico protest telecommunications law

12 hours ago

Hundreds of students and activists marched in Mexico's capital Tuesday to protest a telecommunications law being debated by the Senate that they say will allow the government to arbitrarily censor Internet content.

User comments : 0

More news stories

Amazon Prime wins streaming deal with HBO

Amazon scored a deal Wednesday to distribute old shows from premium cable TV channel HBO to its monthly Prime subscribers, landing a blow on rival Netflix in the streaming video battle.

Is nuclear power the only way to avoid geoengineering?

"I think one can argue that if we were to follow a strong nuclear energy pathway—as well as doing everything else that we can—then we can solve the climate problem without doing geoengineering." So says Tom Wigley, one ...

Robot scouts rooms people can't enter

(Phys.org) —Firefighters, police officers and military personnel are often required to enter rooms with little information about what dangers might lie behind the door. A group of engineering students at ...

Cyber buddy is better than 'no buddy'

A Michigan State University researcher is looking to give exercise enthusiasts the extra nudge they need during a workout, and her latest research shows that a cyber buddy can help.