Verizon Wireless looking to buy Dish Network's spectrum: NY Post

Fri Jun 20, 2014 11:40am EDT

Lowell McAdam, Verizon's chief executive officer (CEO), speaks at the closing first day keynote at the Consumer Electronics Show (CES) in Las Vegas January 8, 2013. REUTERS/Rick Wilking

Lowell McAdam, Verizon's chief executive officer (CEO), speaks at the closing first day keynote at the Consumer Electronics Show (CES) in Las Vegas January 8, 2013.

Credit: Reuters/Rick Wilking

(Reuters) - Verizon Communications Inc (VZ.N) unit Verizon Wireless is looking to buy satellite-TV operator Dish Network Corp's (DISH.O) spectrum to improve wireless internet speeds, the New York Post reported, citing sources familiar with the matter.

Dish's shares were up 3.4 percent at $61.81 on the Nasdaq on Friday morning. Verizon Communications shares were little changed at $49.39.

The two companies have held informal, early talks about the spectrum, the report said. (bit.ly/1jCAp7z)

In May, Verizon Communications Chief Executive Lowell McAdam shot down rumors that the company was in potential merger talks with Dish.

Federal Communications Commission Chairman Tom Wheeler has proposed restrictions on how much the biggest wireless carriers can bid for in a major auction of TV spectrum scheduled for mid-2015.

A possible merger between Sprint Corp (S.N) and T-Mobile US Inc (TMUS.N) could prompt U.S. regulators to rewrite rules they are now considering for the auction.

(Reporting by Soham Chatterjee in Bangalore; Editing by Maju Samuel)

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