Dish Network will bid for TerreStar

Dish Network chairman Charlie Ergen has renewed efforts to acquire TerreStar Networks, agreeing to submit a “stalking horse” bid of $1.375 billion for the bankrupt hybrid- satellite-technology firm.

TerreStar’s assets are slated to be auctioned on June 30th, with Dish’s offer to serve as the opening bid, according to bankruptcy-court filings.

TerreStar offers wholesale wireless voice and Internet services through ground-based and satellite communications systems. The company currently partners with AT&T on a mobile phone service.

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