Tag - TerreStar
The FCC in an Open Commission Meeting Wednesday morning unanimously voted to pursue possibilities for significantly improving 4G's use in the US. It would verify whether there would be any adverse effect to making the 700MHz A, B, and C blocks of spectrum interoperable, letting one roam on the other. Agency officials would want outside input on what the rules would be if there were little to no interference, as well as whether any interference might be cut back.
Dish Network has now completed its court-approved purchases of satellite operators TerreStar and DBSD. The satellite TV provider plans to use the operators' wireless licenses to offer 4G cellular access and thus compete with cable TV and phone companies. This would be a first for a satellite provider, as they can't provide Internet access to many homes and when they can, the speeds aren't as fast as those offered by cable providers.
The FCC on Friday delayed a decision whether or not Dish could get a waiver for a satellite-free version of its proposed 4G phone network. The agency decided that the "rulemaking process" was necessary for the public good. It didn't give details of when a decision was expected, although claims by a pair of Reuters sources had a decision targeted for the end of the year.
Dish Network chairman Charlie Ergen believed his company had an 80 percent shot at succeeding with its potential 4G phone network. It hinged on the FCC giving the LTE network a waiver to run, but he called it both a core part of Dish's plans. Cellphone service could even be a "transformative strategy," Ergen said.
A US Bankruptcy Court in NY has approved Dish Network's proposed purchase of TerreStar. The deal has been valued at $1.38 billion. The main asset that Dish will be getting is the bankrupt satellite communications provider's 20MHz of wireless spectrum.
Dish Network's hopes to buy out TerreStar may have come true as reports have surfaced Tuesday that it's now the only bidder for the satellite smartphone creator. A deadline Monday night has passed with only a nearly $1.38 billion bid from Dish still around, giving it a near-certain win. Cellular carrier MetroPCS had considered a bid to get much-needed wireless spectrum, Reuters says, but has since backed out for unknown reasons.
Dish Networks is close to reaching an agreement to purchase bankrupt satellite smartphone provider Terrestar Networks for $1.2 to $1.4 billion, according to a Reuters report on Tuesday. Terrestar declared bankruptcy in October of last year and its assets include wireless spectrum.
TerreStar today opened the doors to its Genus satellite smartphone and began selling it to the wider public. The once work-only phone can now be bought just for personal use. Its creator imagines it being used by wilderness hikers, boaters and others who might leave cell coverage but still need to get online.
As expected, satellite phone maker and carrier TerreStar Networks has filed for Chapter 11 bankruptcy, according to a Tuesday report. The company and 12 of its affiliates had more than $1 billion of liabilities, with $1.4 billion of assets and $1.64 billion of liabilities as of June 30. TerreStar's largest secured creditor, satellite TV provider EchoStar, will help TerreStar with $75 million of operating capital to keep it working through the bankruptcy.
In spite of just releasing its Genus satellite smartphone, Terrestar may already be on the edge of bankruptcy after a scoop today. The company is reportedly in talks with creditors and could file for Chapter 11 bankruptcy as early as Sunday. The WSJ hints that TerreStar would already have a restructuring plan in place and would have both $75 million to last the reorganization and stock sales to help clear the $1 billion in debt.