DISH Network Takes On Sprint With Bid For Clearwire

Englewood, Colorado-based DISH Network emerged as a surprise bidder for 4G wireless network developer Clearwire Tuesday afternoon, proposing to acquired Clearwire for $3.30 per share, valuing Clearwire at roughly $4.9 billion. The new bid comes after wireless carrier Sprint--Clearwire's major partner and investor--already said it planned to buy Clearwire, as part of an acquisition bid by Japan's Softbank Corp. Clearwire operates a 4G wireless network based on the WiMax standard, and is in the process of building and replacing that network with an LTE network specifically for Sprint.