April 3 Dish Network, controlled by
billionaire chairman Charlie Ergen, has priced a debt offering
of $2.3 billion, more than double the amount of debt than it
said it would offer a day ago.
The company, which made a $2.3 billion bid to buy a minority
stake in wireless service provider Clearwire Corp in
January, said the proceeds of the debt offering could be used
for "wireless and spectrum-related strategic transactions."
The offering is expected to close April 5, Dish said in a
statement. A spokesman for Dish was not immediately available
for further comment on Wednesday.
On Tuesday, Dish had said it planned to raise $1 billion in
senior notes. The larger offering announced on Wednesday signals
that demand was strong for Dish's debt.
Dish has been competing with Sprint for a minority stake in
Clearwire. Sprint, already the majority owner of Clearwire,
struck a deal in December to buy out the rest of the wireless
company. But many Clearwire shareholders said they were unhappy
with the Sprint offer, which would need approval from the
majority of Clearwire's minority investors.
Clearwire has said that it would continue talks with Dish
but that it has not changed its recommendation in favor of its
agreement with No. 3 U.S. mobile provider Sprint.
Dish's Ergen has bought billions of dollars worth of
spectrum in the past few years as the satellite pioneer aims to
diversify his company's pay TV business, which competes in a
mature market against cable, telecom and Internet video
providers. Dish has more than 14 million satellite TV
subscribers, making it one of the largest U.S. pay TV operators.