Dish chairman bids $2B for LightSquared wireless spectrum2013-05-21 09:51 by DanielaTags: Dish, LightSquared
Charlie Ergen, chairman of satellite-TV provider Dish Network Corp., has reportedly made a $2 billion bid for radio frequencies from LightSquared Inc., the bankrupt wireless-broadband company owned by Philip Falcone's hedge-fund firm. Falcone's plans to introduce a new wireless network in the United States fell apart when the U.S. Federal Communications Commission said it would revoke permissions as the new network would interfere with global positioning systems used by the military. Last month, the FCC gave LightSquared permission to experiment with sharing airwaves now used by U.S. government weather satellites and weather balloons. As the airwaves for sale are close to spectrum used in GPS devices, Dish would likely need to set a user arrangement with big GPS users—such as the defense and farm-equipment industries—in order to make the airwaves usable for a cellular phone network, a potentially costly undertaking on top of the deal price. So far, Dish and LightSquared have declined to comment on the matter. Read more -here-
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