- Sep 8, 2003
From our friends at SkyReport.com
Wednesday night, EchoStar said it made an offer for North American satellite assets controlled by Loral, which is currently in bankruptcy proceedings.
EchoStar said it made a $1.029 billion offer for the six North American satellites operated by Loral. The company described the bid as a "topping offer," believed to be about $29 million more than Intelsat's offer for the same satellite assets.
The EchoStar bid was submitted directly to Loral as part of Loral's bankruptcy proceedings.