DISH Statement on AWS-3 Spectrum
October 01 2015 - 7:04PM
Business Wire
DISH Network Corp. (NASDAQ: DISH) today issued the following
statement providing an update on AWS-3 Spectrum.
The following remarks can be attributed to R. Stanton Dodge,
DISH executive vice president and general counsel:
“Today, the two entities in which DISH invested with respect to
the AWS-3 auction – Northstar Wireless and SNR Wireless – entered
into a series of arrangements in connection with which the FCC will
retain certain licenses for which Northstar and SNR were the
winning bidders, and the FCC will apply funds already on deposit
and newly-loaned funds from a subsidiary of DISH toward the payment
of the gross winning bids for the remaining licenses, which cover
approximately 6.6 billion MHz-POPs.
“As a result of these arrangements:
- Northstar Wireless is expected to be
granted licenses with aggregate gross winning bids of $5.62
billion, covering approximately 3.7 billion MHz-POPs. The licenses
retained by the FCC have aggregate gross winning bids of $2.2
billion and cover approximately 690 million MHz-POPs. Northstar
Wireless is expected to maintain 84% of the original MHz-POPs.
- SNR Wireless is expected to be granted
licenses with aggregate gross winning bids of $4.27 billion,
covering approximately 2.9 billion MHz-POPs. The licenses retained
by the FCC have aggregate gross winning bids of $1.2 billion and
cover approximately 629 million MHz-POPs. SNR Wireless is expected
to maintain 82% of the original MHz-POPs.
- The eligibility of Northstar Wireless,
SNR Wireless and their investors (including DISH) to participate in
future auctions, including any re-auction of the AWS-3 licenses
retained by the FCC, is not affected.
- Northstar Wireless and SNR Wireless
will not be deemed “current defaulters” under FCC rules.
- DISH and the entities in which it has
invested are expected to have an average of approximately 75 MHz of
spectrum nationwide, covering over 23 billion MHz-POPs.
- Using cash available on its balance
sheet, DISH loaned approximately $413 million to Northstar Wireless
and SNR Wireless to, among other things, fund the amounts due to
complete payment of the gross winning bids for the remaining
licenses, after application of funds already on deposit with the
FCC.
“DISH appreciates the diligent efforts of the FCC staff, and
particularly the efforts of the Wireless Bureau, in working with
DISH, Northstar Wireless and SNR Wireless regarding these
arrangements.”
Additional resources:
- A letter filed by Northstar Wireless to
the FCC can be viewed here:
Northstar_Wireless_Letter_to_FCC_10.01.15.pdf
- A letter filed by SNR Wireless to the
FCC can be viewed here:
SNR_Wireless_Letter_to_FCC_10.01.15.pdf
- An FCC letter regarding Northstar
Wireless can be viewed here:
https://apps.fcc.gov/edocs_public/attachmatch/DA-15-1108A1.pdf
- An FCC letter regarding SNR Wireless
can be viewed here:
https://apps.fcc.gov/edocs_public/attachmatch/DA-15-1109A1.pdf
About DISH
DISH Network Corp. (NASDAQ: DISH), through its subsidiaries,
provides approximately 13.932 million pay-TV subscribers, as of
June 30, 2015, with the highest-quality programming and technology
with the most choices at the best value. Subscribers enjoy a high
definition line-up with more than 200 national HD channels, the
most international channels, and award-winning HD and DVR
technology. DISH Network Corporation is a Fortune 250 company.
Visit www.dish.com.
Subscribe to DISH email alerts: http://about.dish.com/alerts
Follow @DISHNews on Twitter: http://www.twitter.com/DISHNews
View source
version on businesswire.com: http://www.businesswire.com/news/home/20151001006985/en/
DISHBob Toevs, 720-514-5351news@dish.com
DISH Network (NASDAQ:DISH)
Historical Stock Chart
From Mar 2024 to Apr 2024
DISH Network (NASDAQ:DISH)
Historical Stock Chart
From Apr 2023 to Apr 2024