Dish Network Chairman Charlie Ergen said his goal was to keep the company's wireless options open, but again did not rule out a merger or partnership with T-Mobile US, which itself is on the hunt for more spectrum.
It's no secret that the vast majority of what wireless executives say in public is not surprising. Usually it's a recitation of phrases, talking points and ideas they have made in the past that they are simply reinforcing. However, every once in a while, in an interview or unguarded moment, wireless executives can let loose a whopper.
An entity controlled by Dish Network Chairman Charlie Ergen was selected as the lead bidder in an auction for LightSquared's spectrum assets with a $2.2 billion bid, as a bankruptcy court judge set the dates and rules for the auction of LightSquared's assets. Meanwhile, an investor has sued Ergen for his role in using a hedge fund to buy LightSquared's debt, which has made him LightSquared's biggest creditor with more than $1 billion in secured debt.
Dish Network Chairman Charlie Ergen held out hope that Dish could partner with erstwhile acquisition target Sprint and said T-Mobile US is probably the last wireless remaining partner Dish could pursue a merger or acquisition with.
Dish Network Chairman Charlie Ergen could make hundreds of millions of dollars in personal profit if his bid to acquire LightSquared's spectrum assets in bankruptcy succeeds, according to a Wall Street Journal report.
A group of LightSquared's lenders filed a reorganization plan in bankruptcy court today that would largely follow the lines of Dish Network Chairman Charlie Ergen's $2.2 billion bid for control of LightSquared's spectrum holdings.
LightSquared financier Philip Falcone is preparing to submit a reorganization plan to a bankruptcy judge that would specifically block Dish Network's Charlie Ergen from receiving compensation, according to a report from the New York Post that cited unnamed sources.
Dish Network, having abandoned its attempt to acquire Sprint Nextel and having been outbid for Clearwire, faces a quandary: What does it do now in wireless?
Now that Dish Network has said it will not make a new offer for Sprint Nextel, clearing the way for SoftBank to get control of Sprint, the most intriguing M&A question is: What will happen to Clearwire, which Dish and Sprint are both pursuing?
Dish Network faces a June 18 deadline to submit its "best and final" offer for Sprint Nextel, an effort complicated by the collapse of talks between Dish and Sprint over a reverse-breakup fee and Dish's need for more capital.