S&C Advises DISH in Asset Purchases from Sprint and T-MobileAugust 4, 2020
DISH Network Corporation completed its $1.4 billion acquisition of the Boost prepaid mobile business of Sprint Corporation, which was divested in connection with the merger of Sprint and T-Mobile US. As a result, DISH has become a nationwide U.S. wireless carrier serving more than nine million customers.
The divesture, which closed July 1, was a condition of the Department of Justice Antitrust Division's clearance of the merger of Sprint and T-Mobile and was designed to ensure DISH's ability to compete in the U.S. wireless market.
DISH also entered into an agreement that provides DISH access to T-Mobile's wireless network as a mobile virtual network operator for up to seven years, enabling DISH to offer services to its users while it develops its own wireless network. In addition, DISH will receive and provide transition services for up to three years following closing. DISH also has the exclusive option to acquire leases for cell towers and retail stores that will be decommissioned as Sprint and T-Mobile integrate.
Concurrently with the closing, DISH entered into an agreement to purchase Sprint's 800 MHz wireless spectrum licenses for $3.6 billion, with a completion date projected for 2023. In connection with the transaction, DISH has voluntarily committed to the Federal Communications Commission to deploy a nationwide 5G broadband network, a first-of-its-kind in the U.S.
The S&C team representing DISH was led by Scott Miller and Scott Crofton. Steve Holley and Brad Smith advised on antitrust matters; Mehdi Ansari advised on intellectual property matters; Rebecca Coccaro advised on employee benefits matters; and Ron Creamer advised on tax matters.