This morning Dish Network announced a $25.5 billion unsolicited offer to buy Sprint Nextel, which was followed shortly by the revelation that Verizon Wireless made an unsolicited offer to purchase Clearwire's spectrum license leases in major markets for up to $1.5 billion. Certainly there are pros and cons to all these scenarios but what seems apparent to me is that Dish's bid for Sprint and Verizon's bid for Clearwire will likely put Sprint's future plans in limbo while these deals are evaluated by shareholders, the FCC and the Department of Justice.
Verizon Wireless made an unsolicited offer to Clearwire to purchase Clearwire's spectrum license leases in major markets for up to $1.5 billion, according to a Wall Street Journal report. The report, citing unnamed sources familiar with the matter, said that it is unclear whether Verizon has any interest in Clearwire beyond getting the spectrum licenses.
Dish Network submitted a $25.5 billion offer to acquire Sprint Nextel Corp.-- a deal that could help it compete with the quadruple-play bundles marketed by Comcast, Time Warner Cable, Verizon and other pay TV rivals.
There is finally an answer to what Charlie Ergen and Dish Network intend to do with the company's $10 billion cash pile: buy Sprint Nextel. Dish has made an offer worth $25.5 billion to buy 68 percent of Sprint, countering Japanese operator Softbank's $20.1 billion deal to buy 70 percent of Sprint.
BlackBerry's shares tumbled nearly 8 percent Thursday, the most in two weeks, as financial analysts questioned the strength of early sales of the Z10, the company's flagship smartphone running its new BlackBerry 10 platform.
Crest Financial, the largest minority shareholder in Clearwire, made good on its promise to wage a proxy battle in an effort to block Sprint Nextel's $2.97-per-share offer to buy the 50 percent of Clearwire that Sprint does not already own.
Who would have thought that Softbank entrepreneur-turned-billionaire Masayoshi Son would go the extra mile to buy a 70 percent stake in Sprint Nextel to enter the U.S. market and create the third largest mobile phone services provider in the world? Likely only a select few telecom veterans.
Sprint Nextel's Virgin Mobile USA prepaid brand is offering T-Mobile USA customers $100 to switch over to Virgin's no-contract service. The action is a response to T-Mobile's new no-contract business strategy.
Sprint may be known primarily for its wireless services, but the provider's efforts to grow its domestic and global footprint drove up its profile from niche player to challenger on Gartner's latest Magic Quadrant for Global Network Service Providers.
The FCC said it will hold a workshop on May 3 to discuss the technical details of the proposed spectrum band plan that will result from its planned incentive auctions of 600 MHz broadcast TV spectrum, which are scheduled to start next year.