DISH Statement on SoftBank and CFIUS
ENGLEWOOD, Colo.--(BUSINESS WIRE)--
DISH Network Corporation (NASDAQ: DISH) responded to news reports
regarding the Committee on Foreign Investment in the United States
(CFIUS) review of the proposed SoftBank-Sprint transaction.
"If the news reports are accurate, SoftBank's agreement to an
extraordinary board structure and the concerns of CFIUS with respect to
the use of Chinese-manufactured equipment on a foreign-controlled
Clearwire network, which reportedly could add as much as $1 billion to
the cost of the proposed SoftBank-Sprint transaction, confirm the
serious national security risks of SoftBank acquiring Sprint and its
wireless and wireline assets of national strategic importance," said
Stanton Dodge, DISH executive vice president and general counsel.
"We remain concerned, however, that these reported steps do not
adequately protect our national security interests, especially with
respect to Sprint's critical fiber backbone network and Sprint's
extensive contracts to provide important telecommunications services for
government, law enforcement and defense customers," said Dodge.
DISH Network Corporation (NASDAQ: DISH), through its subsidiary DISH
Network L.L.C., provides approximately 14.092 million satellite TV
customers, as of March 31, 2013, with the highest quality programming
and technology with the most choices at the best value, including HD
Free for Life®. Subscribers enjoy the largest 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's subsidiary, Blockbuster L.L.C., delivers family
entertainment to millions of customers around the world. DISH Network
Corporation is a Fortune 200 company. Visit www.dish.com.
Cautionary Statement Concerning Forward-Looking Statements
Certain statements contained herein may constitute "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. Such forward-looking statements involve known and
unknown risks, uncertainties and other factors that may cause the actual
results, performance or achievements of DISH Network Corporation to be
materially different from any future results, performance or
achievements expressed or implied by such forward-looking statements.
More information about such risks, uncertainties and other factors is
set forth in DISH Network Corporation's Disclosure Regarding
Forward-Looking Statements included in its recent filings with the
Securities and Exchange Commission (the "SEC"), including its annual
report on Form 10-K for the year ended December 31, 2012 and any
subsequent quarterly reports on Form 10-Q. Risks and uncertainties
relating to the proposed transaction include, without limitation, the
risks that: Sprint Nextel Corporation will not enter into any definitive
agreement with DISH Network Corporation or the terms of any definitive
agreement will be materially different from those described above; the
parties will not obtain the requisite financing or regulatory approvals
for the proposed transaction; the proposed transaction will not be
consummated for any other reason; management's attention will be
diverted from ongoing business operations; and the anticipated benefits
of the transaction will not be realized. The forward-looking statements
speak only as of the date made, and DISH Network Corporation expressly
disclaims any obligation to update these forward-looking statements.
Additional Information About the Proposed Transaction and Where to
This communication relates to a business combination transaction with
Sprint Nextel Corporation proposed by DISH Network Corporation, which
may become the subject of a registration statement filed with the SEC.
This communication is not a substitute for the joint proxy
statement/prospectus that DISH Network Corporation and Sprint Nextel
Corporation would file with the SEC if any agreement is reached or any
other documents that DISH Network Corporation or Sprint Nextel
Corporation may send to shareholders in connection with the proposed
transaction. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE JOINT
PROXY STATEMENT/PROSPECTUS AND ALL OTHER RELEVANT DOCUMENTS IF, AND
WHEN, THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT
INFORMATION ABOUT THE PROPOSED TRANSACTION. All such documents, if
filed, would be available free of charge at the SEC's website (http://www.sec.gov).
In addition, investors and security holders may obtain free copies of
such documents filed by DISH Network Corporation with the SEC by
directing a request to: DISH Network Corporation, 9601 S. Meridian
Boulevard, Englewood, Colorado 80112, Attention: Investor Relations.
This communication shall not constitute an offer to buy or solicitation
of an offer to sell any securities, nor shall there be any sale of
securities, in any jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under the
securities laws of any such jurisdiction.
DISH Network Corporation and its directors and executive officers may be
deemed, under the rules of the SEC, to be participants in any
solicitation of shareholders of DISH Network Corporation or Sprint
Nextel Corporation in connection with the proposed transaction.
Investors and security holders may obtain information regarding the
names, affiliations and interests of the directors and executive
officers of DISH Network Corporation in its annual report on Form 10-K
for the year ended December 31, 2012, which was filed with the SEC on
February 20, 2013, and its proxy statement for the 2013 annual meeting
of shareholders, which was filed with the SEC on March 22, 2013. These
documents can be obtained free of charge at the SEC's website (http://www.sec.gov)
and from Investor Relations at DISH Network Corporation at the address
set forth above. Additional information regarding the interests of these
participants will also be included in any proxy statement/prospectus and
other relevant documents to be filed with the SEC in connection with the
proposed transaction when they become available.
DISH Network Corporation
Jason Kiser, 303-723-2210
Source: DISH Network Corporation
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