DISH Makes Bid for LightSquared

A wholly owned subsidiary of DISH Network , L-Band Acquisition, has put forth a plan to purchase substantially all of the assets of LightSquared for $2.22 billion in cash, plus the assumption of some of LightSquared's liabilities, according to a filing DISH made today with the SEC.

L-Band Acquisition was formed with the purpose of making a bid for LightSquared's assets, and it has entered into an agreement with certain senior secured lenders to LightSquared to support and pursue confirmation of a reorganization plan for LightSquared. LightSquared declared bankruptcy in May 2012 with assets of $4.48 billion and debt of $2.29 billion.

Any acquisition would be subject to approval by the bankruptcy court, the FCC, and the Canadian Federal Department of Industry.

The article DISH Makes Bid for LightSquared originally appeared on Fool.com.

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