Ergen offers USD 2 bln for LightSquared spectrum - report

Tuesday 21 May 2013 | 16:51 CET | News
Satellite mogul Charlie Ergen bid USD 2 billion for certain spectrum from LightSquared, the wireless venture spearheaded by financer Philip Falcone that is currently navigating bankruptcy proceedings, people familiar with the matter told the The Wall Street Journal. Ergen, the chairman of satellite-TV operator Dish Network, offered to buy LightSquared's so-called L-band spectrum, one source said. If LightSquared accepted the bid, it would more than pay off the company's roughly USD 1.7 billion in bank debt held by a variety of hedge funds. In recent months, a hedge fund with ties to Ergen,

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Categories: Mobile & Wireless
Companies: Dish Network / LightSquared
Countries: United States
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