DISH Network (DISH) Comments on Canadian Approval of TerreStar License Transfer

February 7, 2012 9:31 AM EST
DISH Network Corporation (NASDAQ: DISH) issued the following statement today regarding Canadian approval of the TerreStar license transfer request:

"DISH is pleased to announce that Industry Canada has approved the transfer of the Canadian spectrum licenses held by TerreStar to DISH. In granting its approval, Industry Canada reached the conclusion that the transfer would be in the public interest in light of 'the capacity that would be available in Canada,' among other reasons.

U.S. bankruptcy courts approved DISH's acquisition of the spectrum licenses held by TerreStar and DBSD in the middle of 2011.

DISH is prepared to immediately close both transactions upon receiving Federal Communications Commission approval of the transactions and associated waiver requests, which will enable DISH to move forward with its planned wireless initiatives.

DISH believes that immediate Commission approval will be a win for consumers, competition, infrastructure investment, and American jobs."

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