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Wednesday, July 9, 2014

Dish tells U.S. FCC will participate in 2015 spectrum auction, (NASDAQ: DISH)

Dish Network Corp said it plans to take part in the U.S. Federal Communications Commission's large sale of low-frequency airwaves planned for mid-2015, according to a filing disclosed on Wednesday. Dish's Chairman Charlie Ergen and other executives met with the FCC's Chairman Tom Wheeler, four commissioners and numerous wireless officials on Monday, giving the most explicit pledge so far by the satellite TV provider to "meaningfully participate" in the so-called "incentive" auction."The incentive auction offers opportunities for competitive providers and new entrants to bid on and win much-needed lowband spectrum, which will facilitate the deployment of mobile broadband services," Dish Senior Vice President Jeffrey Blum wrote in the filing.Ergen, Blum and other Dish representatives also reiterated their plan to bid in the smaller AWS-3 spectrum auction scheduled to begin Nov. 13, where Dish is expected to be one of the main participants.Investors have been watching for any signs of what Ergen plans to do with the spectrum Dish has spent billions amassing. Potential plans may include a partnership with another broadband player to build a wireless network. Dish shares have risen nearly 60 percent to $65.70 over the past 12 months mainly thanks to investors' high hopes for the value of the company's spectrum.

DISH Network Corporation is a pay-television (TV) provider, with approximately 13. Shares of DISH traded higher by 1.17% or $0.76/share to $65.92. In the past year, the shares have traded as low as $41.33 and as high as $67.50. On average, 2633500 shares of DISH exchange hands on a given day and today's volume is recorded at 914694.