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Sprint Backs Out Of Auction For Airwaves


Sprint Corp. the U.S.'s third largest wireless carrier, announced it will not bid on airwaves known as the H Block in an auction planned by the Federal Communications Commission, that puts Dish Network Corp. in a better position to by up airwaves with one less competitor. John Taylor, a Sprint spokesman, said "We have opted not to participate in the upcoming H Block auction." This is a sudden change or heart for Sprint who just two month ago was asking regulators to push up the date of the auction. This comes one day after T-Mobile announced it wasn't going to bid on H Block airwaves. Dish Network has already offered the FCC a $1.56 billion floor price. As a condition of the minimum bid, Dish is also asking for broader use of the airwaves it already has. If the deal goes through it would raise of value of the spectrum, adding to the satellite television providers appeal to investors.