Ergen Bids $2 Billion for LightSquared Spectrum
Satellite mogul Charlie Ergen bid $2 billion for certain spectrum from LightSquared Inc., the wireless venture spearheaded by financier Philip Falcone that is currently navigating bankruptcy proceedings, said people familiar with the offer.
Mr. Ergen, the chairman of satellite-TV operator Dish Network Corp., made the offer to LightSquared on Wednesday, one of the people said. Mr. Ergen’s offer is for LightSquared’s so-called L-band spectrum, this person said. Spectrum is the limited pockets of airwaves that telecommunications firms need to operate wireless networks.