Dish Network Executive Vice President of Corporate Development Tom Cullen officially confirmed the formal approach to Clearwire with respect to a potential strategic transaction, but declined to comment in detail. “We look forward to working with Clearwire’s Special Committee as it evaluates our proposal,” Cullen said in a statement.

   The details of the bid include Dish Network purchasing approximately 24 percent of Clearwire’s spectrum assets for $2.2 billion – an asset grab similar to the satellite broadcaster’s purchase of bankrupt spectrum holders TerreStar Networks and DBSD North America in 2011. Clearwire owns a considerably large surplus of wireless spectrum that could be used to provide high-speed data connectivity services. The frequencies, however, are notoriously weak indoors and require a vast terrestrial infrastructure system to cover an area.

The terms of the acquisition offer also require Clearwire to build and manage a wireless network for Dish Network, which would provide up to $800 million in additional financing to support its potential subsidiary.

    Ergen’s bid raises the ante from Sprint Nextel’s previous offer to buy the remaining 49 percent of Clearwire for $2.90 per share, which was later raised to $2.97 per share, or $2.2 billion. Clearwire currently provides Sprint with high-speed Sprint 4G data services on some of its phones. The cellular operator certainly has friends among Clearwire shareholders, some of which oppose the sale and believe Sprint can outbid Dish Network.

   Even if Clearwire accepts the deal, Sprint, which owns 51 percent of Clearwire, would have to sign off on the offer. The cellular company already put out a response statement, saying that it does not intend to allow the transaction and asserting that its offer is superior to Dish Network’s, due to the fact that it is free from connected commercial agreements, spectrum sales and additional debt and equity purchases. Clearwire, on the other hand, said it would be willing to discuss the unsolicited offer with Dish Network.

   Some analysts wonder whether Sprint can afford to lose Clearwire, as the cellular company recently agreed to sell 70 percent of itself to Softbank for approximately $20 billion to ease its financial struggles. Many believe that the sale gives Sprint a clear path to buying Clearwire.