Report: DISH CEO Makes Aggressive $2B USD Bid for LightSquared's Spectrum

From DailyTech: The fall of LightSquared and hedge fund manager Phillip Falcone was well documented. For a time it looked like the service provider would become a key partner to Sprint Nextel Corp. (S) with its ambitious satellite LTE scheme.

Then came the news that the satellite transmissions would interfere with roughly 75 percent of global positioning service (GPS) receivers -- a debacle that caused the U.S. Federal Communications Commission to reject LightSquared's bid in the eleventh hour, despite giving a conditional approval that critics say was bred from Mr. Falcone's close relationship with the Obama administration. In the aftermath of the FCC rejection, Sprint dumped LightSquared, LightSquared went bankrupt, and Mr. Falcone was accused of defrauding investors.

But the company still holds valuable spectrum, and in the midst of its Chapter 11 bankruptcy it reportedly has received a major bid for that spectrum that could help Mr. Falcone trim his losses and pay of debt, relieving bitter shareholders.

The bid for spectrum was first reported by Bloomberg and is reportedly the work of DISH Network Corp. (DISH) CEO, chairman, and founder Charlie Ergen.

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