Ina Fried

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SoftBank Says Still Hopes to Complete Sprint Deal by July

Japan’s SoftBank said Tuesday that it still expects to complete its deal by July to acquire a controlling interest in Sprint Nextel.

softbank_sprint_logos

SoftBank’s statement comes despite a rival $25.5 billion bid for Sprint coming from Dish Network.

“SoftBank believes that the agreed terms of our transaction with Sprint offer Sprint shareholders superior short and long term benefits to Dish’s highly conditional preliminary proposal,” SoftBank said in a statement. “The SoftBank-Sprint transaction is in the advanced stages of receiving the necessary approvals, and we expect to consummate the transaction on July 1, 2013.”


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The problem with the Billionaire Savior phase of the newspaper collapse has always been that billionaires don’t tend to like the kind of authority-questioning journalism that upsets the status quo.

— Ryan Chittum, writing in the Columbia Journalism Review about the promise of Pierre Omidyar’s new media venture with Glenn Greenwald