Sprint Forms ‘Special Committee’ to Analyze Dish Offer22 Apr, 2013 By: Erik Gruenwedel
Sprint Nextel’s board has formed a “special committee,” including legal and financial advisors, to evaluate Dish Network’s $25.5 billion proposal to merge the two companies, according to Dish.
Englewood, Colo.-based Dish, which owns and operates Blockbuster LLC, and is considering launching wireless products via the rental stores, said it was “pleased” Sprint is taking its offer seriously.
Specifically, Dish said a combined company would create “an industry-leading spectrum portfolio” capable of offering consumers a nationwide bundle of in- and out-of-home video, broadband and voice services.
Additionally, Dish said the combined companies could deliver improved broadband services to “millions of homes” that have inferior or no access to broadband services.
“We are confident the Sprint board will share our view that this proposal is superior on several fronts by offering Sprint shareholders greater value with a higher price and more cash, while also creating the opportunity to participate meaningfully in a combined, and competitively unique, Dish/Sprint,” Dish said in a statement.