Dish Network, struggling to make a go of satellite television service, decided to enter another difficult business, mobile telephone service. They bought the FCC mandated bits of Sprint that T-Mobile could not keep, bought some small wireless carriers for bodies and kit, and bought $30B of 5-G spectrum at auction including what came with Sprint.
Almost 3 years on, they have yet to realize revenue from that $30B in spectrum. Their deal with the FCC required them to have coverage over 70% of the country’s population by 2023 summer.
With $30B of spectrum assets in inventory, the company’s market capitalization is only $8B as I write this. Major brokerages are neutral but Dismal Wizard is feeling abandoned.
Since the acquisition, our prepaid monthly service has been grandfathered in. Chat bots have replaced the live Wisconsin support people that made Ting unique. The live support operators that picked up on the third ring, were pleasant to work with, and could actually help. This service plus T-Mobile fulfillment put Ting at the head of the pack.
The virtual network continues to operate on automatic. Same great T-Mobile service delivery as always. But there are signs of trouble. Dish are decommissioning the Ting web app at the end of February. Without prior communication. DW learned of this when he, by chance, opened the app on his mobile and saw the “I’m going away” message.
Dismal Wizard dropped by Edgar to see what Dish had to say about itself. Not much, lots of Dixie whistling. After 75 years on this planet, you can name that tune pretty quickly. Oh, and they keep issuing debt securities. Dismal Wizard feels seawater sloshing about his ankles. Time to go for a swim. So we did, to Mint Mobile after an exhaustive 5 minute study of https://cr.org/ Read on to learn about the new kids.
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