Bid for Loral could crimp Ergen rivals.(Satellite)(EchoStar Communications Corp. makes a $1.85 billion play for bankrupt Loral Space & Communications Ltd.)
Multichannel News, October, 2003 by Farrell, Mike
EchoStar Communications Corp. made a $1.85 billion play for bankrupt Loral Space & Communications Ltd. last Wednesday, a move some saw as an effort by the direct-broadcast satellite giant to delay construction of at least one bird for rival DirecTV Inc. EchoStar chairman and CEO Charlie Ergen had been considering a bid for months.
The company sent a letter to Loral back in August to express its interest. At the time, a spokesman said EchoStar had not decided whether to actually make a bid. EchoStar's offer is contending against an earlier bid by Intelsat Ltd. to acquire Loral's North American satellite assets for about $1.1 billion. Intelsat had planned to buy the Loral assets--five operational satellites and one being constructed for...
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