DISH Network Statement on Bankruptcy Court Approval of TerreStar’s Reorganization

Scott Greczkowski

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DISH Network Statement on Bankruptcy Court Approval of TerreStar’s Reorganization

Englewood, Colo., Feb. 15, 2012 – DISH Network Corporation (Nasdaq: DISH) issued the following statement today regarding final bankruptcy court approval of TerreStar Networks' reorganization plan:

“DISH Network is pleased to announce that a U.S. bankruptcy court today confirmed TerreStar’s reorganization plan to emerge from bankruptcy. The U.S. bankruptcy courts previously authorized TerreStar and DBSD to sell their spectrum licenses to DISH during the middle of 2011.

DISH is prepared to close both transactions upon receipt of Federal Communications Commission approval of the license transfers and associated waiver requests. With these approvals, DISH would immediately begin the design and construction planning for the nation’s first 100 percent LTE network. The requested waivers are necessary, among other things, to remove an outdated requirement for every handset to have the capability to establish a communications link to a satellite. The waiver of this requirement will allow DISH to provide more meaningful competition and greater choice for wireless consumers.”
 

Stargazer

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It will probably be a little while before any specific details will come out as this seems more like a long-term thing but sounds very exciting.
 

ikki

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[h=1]Dish's plan for TerreStar Network gets judge's approval[/h][h=4]Denver Business Journal by Greg Avery, Reporter[/h]Date: Thursday, February 16, 2012, 10:56am MST

Dish Network is inching closer to controlling the valuable wireless spectrum on which it spent $2.9 billion in bankruptcy auctions.
A federal judge this week approved Dish Network’s bankruptcy reorganization plan for TerreStar Network, a failed satellite communications firm.
Douglas County-based Dish Network needs federal approval to use the 40 megahertz of broadcast spectrum licensed to TerreStar and DBSD North America, another bankrupt company Dish Network bought last year. The deals were valued at nearly $3 billion.
“Dish is prepared to close both transactions upon receipt of Federal Communications Commission approval of the license transfers and associated waiver requests,” Dish said in a news release Wednesday. “With these approvals, Dish would immediately begin the design and construction planning for the nation’s first 100 percent LTE network.”
Charlie Ergen, Dish Network’s founder and chairman, said he envisions using the spectrum to create a wireless voice, video and broadband service for mobile and in-home use.
The spectrum currently requires handsets using the network to use both satellite and ground networks. Dish Network wants the satellite provision removed so normal smartphones can use the network that it wants to build.
The large block of spectrum Dish Network gained buying TerreStar and DBSD also appears to interest AT&T, which many analysts believe will bid to buy Dish Network.


 

Stargazer

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If Charlie owns the majority of the stock then I don't think he will let AT&T get it. I also don't think the government will allow it to happen.
 

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