DISH Network announces debt offering

Reuters Business News
Posted: Apr 02, 2013 10:12 AM
DISH Network announces debt offering

(Reuters) - DISH Network Corp said it plans to offer around $1 billion in debt, potentially using the money for wireless and spectrum-related transactions.

It will offer about $1.0 billion of its senior notes, subject to market and other conditions, the company said in a statement on Tuesday.

DISH has been looking to diversify beyond its core pay-TV business, which has matured and faces tough competition from cable, telecom and Internet video providers.

In January, DISH put in a bid of $3.30 per share for Clearwire, which had already agreed to sell itself to majority owner Sprint Nextel for $2.97 per share.

Clearwire has said that it would continue talks with Dish but that it has not changed its recommendation in favor of its agreement with No. 3 U.S. mobile provider Sprint.

Clearwire, Chairman Charlie Ergen has told investors he has "plenty of time" to work out a wireless strategy, the company also noted that it hopes to run wireless technology tests by the end of this year.

Ergen has acquired about $3 billion worth of wireless spectrum over the last few years.

(Reporting By Nicola Leske; Editing by Chizu Nomiyama)