Dish Network is pulling its $2.2 billion bid to acquire LightSquared’s spectrum while LightSquared is in bankruptcy protection, reports Fierce Wireless.
The bankruptcy trial pits billionaires Ergen and Falcone against each other over a company that LightSquared has said may be worth as much as $10 billion.
Ergen spent about $800 million on LightSquared debt, including money he withdrew from a trust fund he and his wife managed for his daughter, said Friedman, the Harbinger lawyer.
LightSquared filed for bankruptcy in May 2012, listing assets of $4.48 billion and debt of $2.29 billion, after the Federal Communications Commission blocked the company’s service, saying it might interfere with civilian and military global-positioning-system navigation equipment.
Now, instead of Lightsquared, DISH could buy the 1695-1710 MHz unpaired uplink spectrum in the FCC auction later this summer, opines Tim Farrar, which might sell for around $0.30 to $0.40 MHz/POP.
DISH already owns a 6 MHz block on the 700 MHz band and 40 Mhz of MSS spectrum (now called AWS-4).
In addition, Dish is likely to be going after the H Block, the paired PCS spectrum at 1915-1920 MHz and 1995-2000 MHz, which is adjacent to Sprint Nextel’s FD-LTE band and Dish Network’s AWS-4 band. Or Ergen could bid on longer range 600 MHz frequencies in 2015 — perhaps with a partner.
All Charlie really needs is a little tower space — and he’s got 14 million rooftops to choose from. Maybe that’s where Lightsquared was supposed to help. Why Dish would have wanted Lightsquared is something of a mystery to me. A more likely partner might be Google, Apple, Microsoft, Amazon, T-Mobile or Sprint.
Where’s my $20/mo wireless broadband? Let’s get this show on the road!
Related Dailywireless articles include; Dish: Lower 700MHz Power Ups Speculation, Lightsquared Files for Bankrupcy, AT&T and Verizon: No 700 MHz Interoperability For You!, FCC Announces H Block Auction, Dish Won’t Bid on H Block Spectrum, AT&T Buying Leap Wireless (Cricket), FCC Limits Dish on LTE Terrestrial Spectrum, Dish: On the Move, Dish and Sprint Battle over PCS band Extension, FCC Approves 2.3 GHz for AT&T, AT&T Likely to Get 2.3 GHz, Sprint’s Dish Compromise, Nexus 4 Deals for Voice/Data, MetroPCS Merges with T-Mobile USA,