Dish To Pull $2.2 Billion Bid To Take Over LightSquared
LightSquared has had an interesting (and relatively rough) go as a company. The telecommunications firm launched with a lot of promise, just as North America was starting to embrace mobile broadband and LTE. But it soon realized that building out a network was a costly project, and fell into bankruptcy as bids from Sprint to take it over passed on by.
Another company that looked into buying up what was left of LightSquared was Dish Network. In fact, it placed a staggering $2.2 billion on the table last year, but nothing ever became of it. Now, a new Wall Street Journal report suggests that Dish will be pulling that bid altogether. The report suggests that LightSquared's lenders -- the folks who LightSquared still owes money to -- weren't in favor of what the bid brought to the table. Those lenders own nearly $2 billion in LightSquared bank debt, and would rather see "a restructuring plan based on Dish's bid."
Only time will tell if there's any saving the deal, or any saving LightSquared, but Dish has been looking for a way to procure spectrum for some time now. In the future, both TV providers and mobile operators will thrive or fail based on the medium that they own in which to transit information. In this case, that's the currency.
Another company that looked into buying up what was left of LightSquared was Dish Network. In fact, it placed a staggering $2.2 billion on the table last year, but nothing ever became of it. Now, a new Wall Street Journal report suggests that Dish will be pulling that bid altogether. The report suggests that LightSquared's lenders -- the folks who LightSquared still owes money to -- weren't in favor of what the bid brought to the table. Those lenders own nearly $2 billion in LightSquared bank debt, and would rather see "a restructuring plan based on Dish's bid."
Only time will tell if there's any saving the deal, or any saving LightSquared, but Dish has been looking for a way to procure spectrum for some time now. In the future, both TV providers and mobile operators will thrive or fail based on the medium that they own in which to transit information. In this case, that's the currency.
