“For more than a decade, telecom moguls and hedge fund titans have wrangled with regulators in a bid to wring billions of dollars out of thin air. This week, the government crowned a winner.
The Federal Communications Commission late Tuesday said Dish Network Corp.,DISH +1.77% led by satellite-TV pioneer Charlie Ergen, would be able to use a slice of the airwaves designated for satellite-phone transmissions to instead offer much more lucrative cellphone service.
Mr. Ergen started assembling that spectrum for a total of about $3 billion half a decade ago. At a stroke, the FCC has now raised its value to as much as $12 billion, according to some analysts’ estimates. Mr. Ergen has to do the hard work of putting that spectrum to use or getting FCC approval to sell it…”
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