Dish Launches $25.5 Billion Bid for Sprint

Dish Network announced today that it has submitted a $25.5 billion takeover bid for wireless giant Sprint Nextel, consisting of $17.3 billion in cash and $8.2 billion in stock.

"The Dish proposal clearly represents superior value to Sprint shareholders, including greater ownership in a combined company that is better positioned for the future with more spectrum, products, subscribers, financial scale and new opportunities," said Dish, led by chairman Charlie Ergen.

Ergen's offer is an attempt to diversify Dish, a satellite pay-television provider, into the world of wireless communications. The company won regulators' approval last year to start offering mobile-phone services, but it lacks the network infrastructure that Sprint has. With it, Dish could offer high-speed Internet to users inside and outside of the home using Sprint's network of cellular towers.

Last October, Softbank launched a $20.1 billion bid to acquire 70 percent of Sprint. Under that deal, SoftBank would pay shareholders $12.1 billion and also give the carrier $8 billion in cash for network upgrades and other improvements. Sprint and Softbank didn't immediately comment on the Dish bid.

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