San Francisco, July 27 (IANS) Putting rumours to rest, DISH Network has confirmed it will enter the US wireless market as the fourth nationwide facilities-based network.
The company has reached agreements with the Antitrust Division of the US Department of Justice, T-Mobile Inc. and Sprint Corporation to complete this transformative transaction.
"These developments are the fulfilment of more than two decades' worth of work and more than $21 billion in spectrum investments intended to transform DISH into a connectivity company," Charlie Ergen, Co-Founder and Chairman, DISH, said in a statement on Friday.
"Taken together, these opportunities will set the stage for our entry as the nation's fourth facilities-based wireless competitor and accelerate our work to launch the country's first standalone 5G broadband network."
DISH's asset acquisitions from Sprint are valued at approximately $5 billion, including a $1.4 billion purchase of Sprint's prepaid businesses and a $3.6 billion agreement to purchase Sprint's nationwide 800 MHz wireless spectrum.
The spectrum purchase is expected to complete three years after the closing of the acquisition of the prepaid businesses.
"The FCC and the DOJ are to be credited for laying the groundwork for an innovative 5G wireless ecosystem that will introduce new opportunities to American consumers and businesses, while enhancing competition in the wireless industry," added Ergen.
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