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Friday, November 21, 2014

U.S. spectrum auction raises more than $30 billion, (NASDAQ: DISH)

Total bidding in the U.S. airwaves auction of so-called AWS-3 frequencies has surpassed $30 billion on Friday, according to the Federal Communications Commission, far exceeding expectations just over a week after bidding began. The wave of bidding vastly surpassed the reserve price of $10.1 billion for the auction, the largest opportunity for wireless carriers to get access to new airwaves since 2008.The most obvious beneficiary of the surge in offers is satellite TV mogul Charlie Ergen's Dish Network Corp, whose share price hit a 14-year high on Friday.The auction, one of the first to sell access to mid-band frequencies similar to the ones controlled by Dish, has crystallized the value of Dish's mass spectrum holdings."This definitely exceeds expectations and makes a strong case for Charlie that his spectrum holdings are worth a lot," one Dish investor told Reuters.

DISH Network Corporation is a pay-television (TV) provider, with approximately 13. Shares of DISH traded higher by 2.05% or $1.48/share to $73.70. In the past year, the shares have traded as low as $49.31 and as high as $75.26. On average, 1863630 shares of DISH exchange hands on a given day and today's volume is recorded at 3840902.