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DISH makes $25.5B bid for Sprint

April 15, 2013 by Veronica Villafañe

DISH-SprintDISH has made an unsolicited surprise $25.5 billion bid to buy Sprint.  The Dish bid comes 6 months after Japan’s SoftBank Corp. made a $20.1 billion offer for Sprint.

DISH network is the No. 2 U.S. satellite television provider. Sprint is the country’s number-three wireless carrier. The Sprint bid would also give DISH access to wireless broadband provider Clearwire.

Sprint owns 50.45% of Clearwire and in December offered $2.2 billion to buy the rest of the company.

Clear-logo
Sprint, which owns 50.45% of Clearwire, bid $2.2 billion to buy the rest of the company in December.

Acquiring Sprint would allow DISH to package internet and phone service with its satellite offerings and target younger consumers, who bypass TV for digital platforms like Netflix, YouTube and Hulu.

Latinos are among the heaviest cell phone users and consumers of online video from mobile devices.

According to Pew Hispanic research and analysis, Latinos own smartphones and use internet from mobile devices at similar—and sometimes higher—rates than do other groups of Americans.

A Pew survey shows 76 % of Hispanic internet users say they access the internet on a cellphone, tablet or other mobile handheld device.

In a press release, DISH states the deal consists of $17.3 billion in cash and $8.2 billion in stock, with Sprint shareholders getting $7.00 per share.  According to DISH, “The cash portion of DISH’s proposal represents an 18% premium over the $4.03 per share implied by the SoftBank proposal.”

In a very brief statement, it confirmed receiving “an unsolicited proposal from DISH Network to acquire the Company. The Company said that its Board of Directors will evaluate this proposal carefully and consistent with its fiduciary and legal duties. The company does not plan to comment further until the appropriate time.”

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Filed Under: Media Tech & Trends Tagged With: cell phone use, Clearwire, DISH, internet, Latinos, online video, Sprint

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Veronica Villafañe, Editor & Publisher

Emmy award-winning journalist and former president of the National Association of Hispanic Journalists (NAHJ). Currently a reporter for Voice of America, she has worked as an on-air reporter, anchor, writer and producer for Spanish and English-language TV, print and online media, including Univision, Telemundo, Fox 11 News in L.A. and the San Jose Mercury News.

Hispanic media and entertainment contributor to Forbes.

Full bio here

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