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DISH Network announces debt offering

The sign in the lobby of the corporate headquarters of Dish Network is seen in the Denver suburb of Englewood, Colorado April 6, 2011. REUTE
The sign in the lobby of the corporate headquarters of Dish Network is seen in the Denver suburb of Englewood, Colorado April 6, 2011. REUTE

(Reuters) - DISH Network Corp said it plans to offer around $1 billion in debt, potentially using the money for wireless and spectrum-related transactions.

It will offer about $1.0 billion of its senior notes, subject to market and other conditions, the company said in a statement on Tuesday.

DISH has been looking to diversify beyond its core pay-TV business, which has matured and faces tough competition from cable, telecom and Internet video providers.

In January, DISH put in a bid of $3.30 per share for Clearwire, which had already agreed to sell itself to majority owner Sprint Nextel for $2.97 per share.

Clearwire has said that it would continue talks with Dish but that it has not changed its recommendation in favor of its agreement with No. 3 U.S. mobile provider Sprint.

Clearwire, Chairman Charlie Ergen has told investors he has "plenty of time" to work out a wireless strategy, the company also noted that it hopes to run wireless technology tests by the end of this year.

Ergen has acquired about $3 billion worth of wireless spectrum over the last few years.

(Reporting By Nicola Leske; Editing by Chizu Nomiyama)

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