Printed from http://www.electronista.com

Court approves Dish's $1.38b buyout of TerreStar

updated 05:55 pm EDT, Fri July 8, 2011

4th deal this year for Dish founder Charlie Ergen

A US Bankruptcy Court in NY has approved Dish Network's proposed purchase of TerreStar. The deal has been valued at $1.38 billion. The main asset that Dish will be getting is the bankrupt satellite communications provider's 20MHz of wireless spectrum.

TerreStar had filed for Chapter 11 back in October. Since then, it has been exploring options including a noteholder buyout, and interest from MetroPCS. Dish made a formal bid in mid-June. MetroPCS dropped out of contention in late June, without ever making an actual bid, leaving Dish as the sole player, pending court approval.

TerreStar is the fourth recent acquisition by Dish or its founder, Charlie Ergen. Last week, a different judge approved Dish's purchase of satellite services provider DBSD for $1.4 billion. In April the company bought Blockbuster, which also was auctioned off in bankruptcy, for $320 million. In February, EchoStar, Dish's parent company, bought satellite and broadband communications provider Hughes Communications for $2 billion. [via Reuters]



By Electronista Staff
toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

toggle

Most Popular

Sponsor

Recent Reviews

IDrive cloud backup and sync service

There are a lot of cloud services out there, and nearly all of them can be used for backing up key files and folders. A few dedicated ...

Asus Chromebook C300

When Chromebooks hit the market back in 2011, consumers didn't know what to do with them. The low-cost laptops, powered by Google's Ch ...

Plantronics BackBeat Pro Bluetooth headphones

Looking for a pair of headphones that can do everything a user requires is a task that can take some study. Trying to decide on in-ear ...

Sponsor

toggle

Most Commented

 
toggle

Popular News