Dish Drops $2B LightSquared Bid As Debt Trial Begins

Law360, New York (January 9, 2014, 5:07 PM EST) -- Dish Network Corp. officially dropped its bid to buy up LightSquared Inc.’s valuable wireless spectrum assets Thursday as attorneys kicked off their trial over Dish chairman Charlie Ergen’s allegedly improper purchase of a controlling share of a LightSquared unit’s secured debt.

Following an announcement Tuesday that a Dish subsidiary’s offer to buy a LightSquared subsidiary’s assets for $2.2 billion was on the rocks after it learned that there were “technical issues” that could interfere with the wireless spectrum at stake, attorneys confirmed Thursday morning that the...
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