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Dish trying to buy Sprint..

Discussion in 'General DISH™ Discussion' started by HinterXGames, Apr 15, 2013.

  1. Stewart Vernon

    Stewart Vernon Roving Reporter Staff Member Super Moderator DBSTalk Club

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    Yet another good reason why Dish probably should not have said what they did :)
     
  2. James Long

    James Long Ready for Uplink! Staff Member Super Moderator DBSTalk Club

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    Press Release:
    DISH: CFIUS Agreement Fails to Adequately Address the Significant National Security Risks of SoftBank-Sprint

    ENGLEWOOD, Colo.--(BUSINESS WIRE)-- DISH Network (NASDAQ: DISH) responded to news today that the Committee for Foreign Investment in the United States (CFIUS) has approved SoftBank Corporation's acquisition of Sprint Nextel Corporation, subject to certain conditions.
    The following statements can be attributed to Stanton Dodge, DISH executive vice president and general counsel:

    "We believe the U.S. government should proceed with deliberation and caution in allowing assets of national strategic importance -- such as the Sprint fiber backbone and wireless networks -- to be owned and operated by a foreign company with significant ties to China. Oversight and accountability for these assets are critical at a time when offshore cyber attacks, including the hacking of weapons systems designs, continue to rise. Congress should take a close look at the CFIUS review process in this instance.

    DISH provided the following responses to the specific conditions of the undisclosed National Security Agreement as reported by SoftBank:
    "SoftBank and Sprint must appoint an independent member to the New Sprint board of directors to serve as the Security Director. The Security Director will be approved by the [U.S. Government] USG Parties, oversee Sprint's compliance with the National Security Agreement and serve as a contact for the USG Parties on all security-related matters. In addition, the Security Director is required to have expertise and experience with national security matters, be a U.S. resident citizen, and hold appropriate security clearances."
    • While the requirement to have an appropriately credentialed Security Director approved by the U.S. government is very common to CFIUS agreements, it does little to address the practical risks of national security breaches, including cyber attacks, because hacking on the ground is not often detected in the boardroom.
    "Once Sprint either obtains operational control of Clearwire or consummates its proposed acquisition of Clearwire, USG Parties will have a one-time right to require Sprint to remove and decommission by December 31, 2016 certain equipment deployed in the Clearwire network."
    • This key provision of the agreement may well never become effective if Sprint does not acquire 100 percent of the equity of Clearwire (and, at a minimum, it appears unlikely that Crest Financial will tender its shares to Sprint) or Sprint does not obtain operational control of Clearwire (and Sprint has been arguing vociferously at the FCC that it does not have such control today despite being a majority shareholder of Clearwire and having the right to appoint a majority of the Clearwire board). Therefore, this provision may ultimately prove to be illusory.
    • There is also a long time between now and the end of 2016 — creating an immense period of interim vulnerability. Further, this provision does nothing to ensure that SoftBank does not, after 2016, re-introduce similar equipment to the Clearwire network.
    "The USG Parties will have the right to review and approve certain network equipment vendors and managed services providers of Sprint, as well as of Clearwire once Sprint completes its proposed acquisition of Clearwire."
    • The U.S. government itself has been the victim of numerous cyber attacks. As a result, its "review and approval" of equipment vendors and service providers cannot insure against national security breaches. Just this week, there have been reports that many critical U.S. defense systems have been hacked by Chinese attackers.
    • Sprint has numerous contracts with the U.S. government, transmitting confidential and possibly classified information. Foreign ownership of the network and facilities transmitting this data creates serious national security concerns for the federal government.
    The attempted acquisition of several strategic U.S. port operations by Dubai Ports World in 2006 was ultimately scuttled on national security grounds, despite having initially received clearance from CFIUS.
    SoftBank-Sprint is potentially more dangerous from a national security perspective than the Dubai Ports World proposal for the following reasons, among others:
    • In the Dubai Ports matter, the foreign acquirer was not acquiring the ports themselves but rather a company that helped manage operations at the ports. SoftBank, by contrast, is seeking to own and operate Sprint's nationwide fiber backbone and wireless networks.
    • Sprint is a leading contractor to the U.S. government and has multiple contracts with the U.S. Department of Defense
    • The assets at issue in this case — nationwide fiber backbone and wireless networks of national strategic importance — are even more vulnerable than maritime ports and are the subject of significantly more frequent and threatening activity.
    • Telecom infrastructure, a mix of hardware and bits, is more difficult to police than the cement-and-mortar ports.
    • The timing of this transaction compels action more urgently than the Dubai Port World controversy, coming as it does on the heels of the discovery that China, with which SoftBank has a number of links, has hacked U.S. weapons systems designs. At a time when the President plans to press the issue of weapons hacking with the Chinese leadership, it seems ill-advised to hand over a key piece of our national infrastructure — the piece that enables hacking — to a foreign company with numerous ties to China.
     
  3. lee635

    lee635 Hall Of Fame

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    I would like to see Sprint get back to the basics. We lose connection all the time, all over town. Sprint provided us a box that hooks into the internet to run wireless calls over the internet while we are at home, so now the wife is sortof happy.

    But it doesn't do texts...It's just pitiful to see my teenage daughter every night standing on the back porch holding her phone high in the air tying to send and receive texts. ;)

    If Charlie will improve "the product", I'm all for it.
     
  4. tsmacro

    tsmacro Hall Of Fame

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    I'm not really sure what it means but here's the latest release from Dish about this:

    DISH Network Announces Expiration of Hart-Scott-Rodino Waiting Period for Proposed Merger with Sprint Nextel


    ENGLEWOOD, Colo.--(BUSINESS WIRE)-- DISH Network Corporation (NASDAQ: DISH) today announced the expiration of the waiting period under the Hart-Scott-Rodino (HSR) Antitrust Improvements Act in connection with the proposed acquisition by DISH of Sprint Nextel Corporation. The waiting period expired Monday, June 3, 2013.

    About DISH
    DISH Network Corporation (NASDAQ: DISH), through its subsidiary DISH Network L.L.C., provides approximately 14.092 million satellite TV customers, as of March 31, 2013, with the highest quality programming and technology with the most choices at the best value, including HD Free for Life®. Subscribers enjoy the largest high definition line-up with more than 200 national HD channels, the most international channels, and award-winning HD and DVR technology. DISH Network Corporation's subsidiary, Blockbuster L.L.C., delivers family entertainment to millions of customers around the world. DISH Network Corporation is a Fortune 200 company. Visit www.dish.com.
     
  5. tsmacro

    tsmacro Hall Of Fame

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    Looks like Dish has released another statement, but it doesn't seem to be saying anything new.


    DISH Issues Update on Sprint Proposal


    ENGLEWOOD, Colo.--(BUSINESS WIRE)-- In response to media inquires about the current state of play regarding its proposal to merge with the Sprint Nextel Corporation, DISH Network Corp. (NASDAQ: DISH) issued the following statement:
    "DISH submitted a formal proposal to merge with Sprint on April 15, 2013. We believe our proposal is both economically and strategically superior to that of SoftBank. DISH and Sprint continue to meet regularly and conduct the due diligence process that began in late May. In addition, DISH and Sprint continue to negotiate the terms of a merger agreement."
    About DISH
    DISH Network Corporation (NASDAQ: DISH), through its subsidiary DISH Network L.L.C., provides approximately 14.092 million satellite TV customers, as of March 31, 2013, with the highest quality programming and technology with the most choices at the best value, including HD Free for Life®. Subscribers enjoy the largest high definition line-up with more than 200 national HD channels, the most international channels, and award-winning HD and DVR technology. DISH Network Corporation's subsidiary, Blockbuster L.L.C., delivers family entertainment to millions of customers around the world. DISH Network Corporation is a Fortune 200 company. Visit www.dish.com.
     
  6. Volatility

    Volatility Legend

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    Dish actually purchase a ton of bandwidth not to long ago, I remember a DirecTV trainer telling me this like a month ago that D* couldn't figure out why they had done so. Hmm...
     
  7. tsmacro

    tsmacro Hall Of Fame

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    1 person likes this.
  8. James Long

    James Long Ready for Uplink! Staff Member Super Moderator DBSTalk Club

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    Hmmm ... if SoftBank sees the need to raise their bid apparently DISH has a chance. :)
     
  9. Athlon646464

    Athlon646464 Gold Members DBSTalk Gold Club

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    Clearwire board rejects Sprint offer in favor of Dish Network bid

    Well, it looks like Sprint's letter to Clearwire Corp. didn't adequately trash Dish Network. According to The Wall Street Journal, a special committee of Clearwire's board will push back a shareholder vote on Sprint's deal today and recommend that the full board endorse Dish's buyout proposal. Needless to say, that would put a sizable wrench in Sprint's plans to fully acquire the spectrum provider. The carrier already owns nearly half of Clearwire, and if Dish gets its way, it will become a major minority shareholder in the company. Whatever happens next, likely won't end the drawn-out bidding war, though; Sprint has already claimed that Dish's offer can't legally be accepted without its consent. As always, stay tuned.

    Update: Dish just formally announced the extension of its tender offer to Clearwire, pushing back the original June 28th date to July 2nd. Skip past the break for the full release.

    Full Story Here
     
  10. tsmacro

    tsmacro Hall Of Fame

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    DISH Issues Update on Sprint Proposal


    ENGLEWOOD, Colo.--(BUSINESS WIRE)-- DISH Network Corp. (NASDAQ: DISH) issued the following statement updating the status of its proposal to merge with Sprint Nextel Corporation:
    "While DISH continues to see strategic value in a merger with Sprint, the decisions made by Sprint to prematurely terminate our due diligence process and accept extreme deal protections in its revised agreement with SoftBank, among other things, have made it impracticable for DISH to submit a revised offer by the June 18th deadline imposed by Sprint. We will consider our options with respect to Sprint, and focus our efforts and resources on completing the Clearwire tender offer."
    About DISH
    DISH Network Corporation (NASDAQ: DISH), through its subsidiary DISH Network L.L.C., provides approximately 14.092 million satellite TV customers, as of March 31, 2013, with the highest quality programming and technology with the most choices at the best value, including HD Free for Life®. Subscribers enjoy the largest high definition line-up with more than 200 national HD channels, the most international channels, and award-winning HD and DVR technology. DISH Network Corporation's subsidiary, Blockbuster L.L.C., delivers family entertainment to millions of customers around the world. DISH Network Corporation is a Fortune 200 company. Visit www.dish.com.
     
  11. Stuart Sweet

    Stuart Sweet The Shadow Knows!

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    Does this sound to you guys like DISH is dropping its bid for Sprint?
     
  12. James Long

    James Long Ready for Uplink! Staff Member Super Moderator DBSTalk Club

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    I agree with that assessment ... it sounds like they will still go after Clearwire but have been blocked from the Sprint merger.
     
  13. inkahauts

    inkahauts Well-Known Member

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    Could be. Will be interesting to see what unfolds in the next six months.
     
  14. inkahauts

    inkahauts Well-Known Member

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    Could be. Will be interesting to see what unfolds in the next six months.
     
  15. Stewart Vernon

    Stewart Vernon Roving Reporter Staff Member Super Moderator DBSTalk Club

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    Yeah... the whole thing just continues to be weird... simultaneously bidding up the price for Clearwire and Sprint... then bailing on Sprint. I don't think Charlie ever really wanted Sprint anyway... but it still seems weird.
     
  16. tsmacro

    tsmacro Hall Of Fame

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    Maybe he's being like that guy in the auction who runs up the price by bidding on something they don't really want just to make someone else pay more?
     
  17. SayWhat?

    SayWhat? Know Nothing

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    Sprint shareholders approve SoftBank acquisition



    USA TODAY

    - ‎44 minutes ago‎











    Sprint Nextel said its shareholders voted Tuesday to approve its merger agreement with Japan's SoftBank, clearing a hurdle in their plans to form a more formidable wireless competitor to Verizon Wireless and AT&T.
     
  18. damondlt

    damondlt New Member

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  19. Athlon646464

    Athlon646464 Gold Members DBSTalk Gold Club

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    Analyst: Likelihood of Dish Network-AT&T merger is “now significantly higher”

    With Sprint Nextel and Clearwire out of the picture, T-Mobile and DirecTV have been named as the most likely merger candidates for Dish Network.

    Macquarie analyst Amy Yong brings another high-profile company into the fray.

    “The likelihood of an AT&T-Dish merger is now significantly higher,” Yong wrote in a research note Friday.

    Dish and AT&T have a bit of history. Rumors and speculation about the companies potentially tying the knot date back about a decade, with regulatory approval among the concerns of any potential deal.

    Full Story Here

    [​IMG]
     
  20. tsmacro

    tsmacro Hall Of Fame

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    Looks like SoftBank really leveraged itself to buy Sprint:

    SoftBank Cut to Junk by S&P After FCC Approves Sprint Deal

    SoftBank Corp. (9984), led by billionaire Masayoshi Son, had its credit rating cut to junk by Standard & Poor’s after winning approval from the Federal Communications Commission for its $21.6 billion bid to buy Sprint Nextel Corp. (S)
    The rating was cut to BB+, the highest non-investment grade, from BBB, with a stable outlook, S&P said in a statement today. The FCC announced July 5 that the deal is in the public’s interest, giving Son a position in the U.S. market.


    Rest of article here: http://www.bloomberg.com/news/2013-07-08/softbank-rating-lowered-to-junk-by-s-p-after-sprint-acquisition.html
     

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