DISH Network Chairman Charlie Ergen continued his pursuit of wireless spectrum as his L-Band Acquisition emerged as the lead group among lenders seeking to buy LightSquared's assets out of bankruptcy, the creditors' attorney told a U.S. Bankruptcy Court on Monday. DISH's wholly owned L-Band increased its bid to $2.2 billion in an unexpected development. LightSquared, which had previously indicated that it would reorganize its assets, has resisted Ergen's overtures. The judge set Dec. 10 as a hearing to approve a final plan.

Related Summaries