Wells Fargo Analyst Sees 2017 as Dish's Big Year for Spectrum Monetization

This "is the year of spectrum monetization," which should be good news for Dish Network, Wells Fargo analyst Marci Ryvicker wrote investors Monday. That monetization movement likely will start with Dish selling a wireless network, building one or partnering on one, or perhaps all three, Ryvicker said, saying the big four wireless companies likely won't combine. The spectrum-related big events for Dish this year include the end of the broadcast incentive auction, which also will end the quiet period and solidify wireless operators' spectrum portfolios, Ryvicker said. She said the AWS-3 designated entity issue should be resolved this year, and if Dish loses, as is generally expected, a re-auction should happen quickly. The 3rd Generation Partnership Project band plan "appears to be as favorable as we could have hoped," with Dish's AWS-4 spectrum in handsets, she said, saying Dish CEO Charlie Ergen "doesn't seem to be waiting for any other 'must-have' assets -- meaning his war chest is finally complete." In a separate note Monday, Ryvicker said this year likely will bring increased activity with streaming bundles, and the first provider to get stations nationwide will become the market leader. She said once the FCC incentive auction wraps up, 2017 "could be the Year of M&A," with broadcast and publishing being particularly likely focuses and with Dish and perhaps Disney also being involved. A cable/wireless merger acquisition is unlikely as cable companies focus their wireless plans on the Verizon mobile virtual network operator agreements. Dish didn't comment Tuesday.