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Wednesday, January 9, 2013

Dish trumps Sprint's offer for Clearwire with $2.3 billion bid, (NASDAQ: DISH)

Dish Network put in a bid for Clearwire Corp on Tuesday that trumped Sprint Nextel's $2.2 billion offer, setting the stage for a takeover battle for the wireless service provider that owns crucial mobile spectrum.Dish's $2.28 billion offer appeared to affirm the satellite television provider's ambitious plan to purchase its way into the wireless services industry, on which it has already spent $3 billion acquiring much-needed capacity.Dish's straight-talking chairman Charlie Ergen says he wants to enter the mobile broadband market, and one way of doing it is to partner with another operator. But some analysts have speculated that Ergen is amassing spectrum -- an increasingly valuable commodity as use of media-consuming mobile devices such as tablets intensifies -- to flip it for a handsome profit.The success of his latest move hinges on a number of conditions, not least of which is approval by wireless carrier Sprint, the No.3 U.S. carrier that owns just over 50 percent of Clearwire and is also keen to buy up the rest of the company.

DISH Network Corporation is a pay-television (TV) provider, with approximately 13. Shares of DISH fell by 1.02% or $-0.37/share to $35.97. In the past year, the shares have traded as low as $26.12 and as high as $37.92. On average, 3335210 shares of DISH exchange hands on a given day and today's volume is recorded at 3043918.