May 20 Charlie Ergen, the chairman of U.S.
satellite company Dish Network Corp, has offered to buy
bankrupt broadband company LightSquared Inc's wireless airwaves,
a source close to Ergen told Reuters.
Ergen's offer for LightSquared spectrum is valued at $2
billion, Bloomberg reported citing people familiar with the bid.
LightSquared, which declared bankruptcy in May 2012, was
bankrolled by one of the hedge fund industry's most powerful
figures, Philip Falcone.
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
Dish declined to comment and LightSquared could not be
reached outside regular U.S. business hours.