OTTAWA and ENGLEWOOD, CO – Industry Canada has approved the transfer of TerreStar's Canadian wireless spectrum licenses to Dish Network Corporation.
The U.S. satellite giant, which bought TerreStar out of bankruptcy protection last summer, said in a statement that it will close the transaction as soon as it receives approval from the Federal Communications Commission, and then “move forward with its planned wireless initiatives”.
“Dish is pleased to announce that Industry Canada has approved the transfer of the Canadian spectrum licenses held by TerreStar to Dish”, reads the company’s statement. “In granting its approval, Industry Canada reached the conclusion that the transfer would be in the public interest in light of ‘the capacity that would be available in Canada,’ among other reasons.”
TerreStar controls about 20 MHz of wireless spectrum. According to this CED report, Dish is required to provide satellite services in Canada within the coverage of the TerreStar-1 satellite, and invest at least 2% of its gross sales from the satellite on research and development. In addition, Dish will have to submit annual reports to Industry Canada detailing its compliance with the conditions.
