Dish Raises DBSD Offer

$1.4 billion for spectrum assets, creditor payments
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Dish Network said in securities filings Tuesday that it has increased its offer for hybrid satellite-terrestrial broadband company DBSD to $1.4 billion, a deal that would give Dish access to additional wireless spectrum and pay off DBSD creditors in full.

According to a filing with the Securities and Exchange Commission Tuesday, Dish said it had entered into an amended investment agreement with DBSD parent ICO Global Communications. Dish would acquire 100% of the equity of a reorganized DBSD for $1.4 billion, subject to bankruptcy court approval. DBSD filed for Chapter 11 bankruptcy protection in May 2009.

Dish had agreed to acquire DBSD's assets for about $1 billion in February. However, since announcing that deal, two other potential suitors - Harbinger Capital Partners and Solus Alternative Management LP - had lobbed in alternative bids.

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