Report: Dish chairman bid $2B for LightSquared wireless spectrum
Summary: Dish's future networking portfolio could grow quite quickly
based on a new report that the satellite TV provider is going after the
bankrupt wireless venture's spectrum.
By Rachel King
ZDNet.com
May 20, 2013 -- 21:08 GMT (14:08 PDT)
http://www.zdnet.com/report-dish-chairman-bid-2b-for-lightsquared-wireless-spectrum-7000015630/
LightSquared's wireless spectrum could be getting a new owner based on a
new report.
According to Bloomberg, Dish Network chairman Charlie Ergen made a $2
billion bid last week for LightSquared's radio frequencies, which are
owned by private investment firm Harbinger Capital Partners.
Bloomberg added, based on unnamed sources said to be familiar with the
deal, that LightSquared has until the end of the month to make a decision.
Dish is already bogged down by other networking and communications deals
floating around -- namely a $25.5 billion bid for Sprint Nextel. The
nation's third largest mobile provider was said in April to be forming a
special committee to mull over the "unsolicited deal."
The latest turn of events for LightSquared appears to be near the end of
the road for the beleaguered Virginia-based business.
CEO Sanjiv Ahuja stepped down in February 2012, but he stayed on with
the company as chairman of the board.
At the time, it was reported that Ahuja's resignation had to do
something with the Federal Communication Commission's move to block the
launch of its 4G network.
A few months prior, Ahuja spoke at the Open Mobile Summit in San
Francisco, arguing that there is a disparity between demand for data and
the amount of available spectrum -- and that the United States is not
ready to handle those problems.
But by May 2012, the wireless venture filed for bankruptcy.
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