LightSquared is a company that filed bankruptcy last year that tried to bring broadband internet to the masses using wireless spectrum. The problem for the company was that the FCC torpedoed the plans the company had for wireless broadband. DishNetwork was one of the companies that have been circling the company wanting to pick up the wireless spectrum that was never used.
Dish offered $2.2 billion for LightSquared, but the deal was turned down. The main shareholder in the bankrupt LightSquared company, Harbinger Capital Partners, said that offer undervalued the assets. Reports now indicate that dish has backed away from any purchase of LightSquared.
Reuters reports that Dish Network could disclose its letter of termination for the company today. There is no indication of whether or not LightSquared has any more suitors looking to purchase its assets. No official comments have been made by Dish or LightSquared at this time.
Bitcoin prices have declined $100 in the past week, about 17%, to $488, according to CoinDesk. The news comes despite announcements last week that Overstock.com was now averaging $15,000 a day in Bitcoin sales, and that DISH Network had officially begun accepting the cryptocurrency. Some analysts are blaming the plunge on a "margin call" at Hong Kong exchange Bitfinex, which is one of the only platforms that allowed users to borrow funds from peer liquidity providers to tr ... Source: Business Insider
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3 days ago, 6:33pm CDT
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After a 5 day losing streak, everyone’s favorite cryptocurrency is finally catching a break. Today bitcoin prices rallied 7 percent off the daily low. On BTC-E, the day started off as usual, with BTC/USD falling 9 dollars to hit a new low of $480. But by mid-day, prices started to recover and eventually hit a high of $518.98. One BTC is currently trading ... Source: Forex News
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4 days ago, 6:59pm CDT
Is the fact that you are a business accepting payment in a crypto-currency of uncertain origin, with a highly volatile exchange rate, something to brag about? Dish Network seems to think so, and it’s in league with its first — and, at this point, apparently only — customers to pay in Bitcoin. This we ... Source: variety
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5 days ago, 1:53pm CDT
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