Dish Network’s courtroom dance with LightSquared appears to have concluded.Reuters reports that the committee overseeing LightSquared’s bankruptcy auction confirmed Dish has withdrawn its $2.2 billion bid for the company, leaving its controversial L-band spectrum on the table.
Satellite television company Dish Network Corp (DISH.O) has withdrawn its $2.2 billion bid to buy bankrupt wireless broadband company LightSquared Inc, throwing the future of LightSquared’s valuable spectrum rights into further doubt. Lawyers involved in LightSquared’s bankruptcy confirmed Dish had pulled its bid at the start of a trial Thursday over whether Dish Chairman Charles Ergen had unlawfully bought LightSquared’s debt in an effort to take over the company.
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