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Dish Network becomes latest telecom stock to spike on report SoftBank may buy it

Shares of Dish Network jumped more than 2 percent in midday trading Tuesday after a report said SoftBank was exploring a possible merger of Sprint, the U.S. wireless company it controls, and the American satellite television provider.

Masayoshi Son, chairman of both SoftBank and Sprint, is seeking to pair his telecom company with a U.S. television distributor in an effort to gain better exposure to the growing Internet of Things industry. A report in the Japanese press said Son's latest target is Dish.

Son already offered a deal to Charter...