Dish Network Floats $1B Deal To Pull DBSD From Ch. 11

Law360, New York (February 1, 2011, 5:34 PM EST) -- Dish Network Corp. said Tuesday it planned to take control of bankrupt DBSD North America Inc. in a $1 billion deal that would see the satellite television giant purchase the equity of the reorganized debtors and pay off senior debt.

The Englewood, Colo.-based Dish Network pitched the proposed investment agreement in the U.S. Bankruptcy Court for the Southern District of New York, where the debtors have been in Chapter 11 proceedings since May 2009, and in a securities filing.

The new plan also would include the...
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