After the Federal Communications Commission stalled Dish Network’s (NASDAQ:DISH) plans to launch its own mobile-phone service for nearly a year, the company’s proposal is now close to receiving approval. As Bloomberg reported on Tuesday, FCC Chairman Julius Genachowski and two other commissioners support an amended version of the company’s wireless network plan.
As Dish Network’s satellite-television business has begun to lose subscribers, the company has turned to the wireless carrier business to offset its losses. To this end, Dish has amassed a significant spectrum holding that the company believes could translate into a wireless service capable of competing with Verizon (NYSE:VZ) and AT&T (NYSE:T).
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In 2008, Dish acquired a 40 GHz spectrum from several bankrupt satellite companies for $3 billion. However, the spectrum band was originally designated for satellite communications, and the company had to petition the FCC to use the spectrum for a wireless service. After the the agency rejected Dish Network’s original request in March, the commission announced that it would conduct a formal review of the plan.