CORRECTED: Sullivan Reps Dish In $1.4B Bid For TerreStar

Law360, New York (June 15, 2011, 1:59 PM EDT) -- Satellite giant Dish Network Corp. bid $1.4 billion in New York on Wednesday to buy the bankrupt satellite communications company TerreStar Network Inc. through a stalking horse auction.

Reston, Va.-based TerreStar, which filed for Chapter 11 in October, called the bid a “significant achievement,” according to court documents. The bid is $150 million more than what TerreStar valued its assets at in its December disclosure statement, court papers show. The bid is also $90 million more than TerreStar's secured debt, the company said, and will be...
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