Dish Network Corp.’s $1.38 billion agreement to buy TerreStar Networks Inc. out of bankruptcy won court approval after no rival bids emerged for the mobile-communications company.
At a hearing Thursday, U.S. Bankruptcy Judge Sean Lane approved Reston, Va.- based TerreStar’s sale to Dish, the second- largest U.S. satellite-television provider.
The TerreStar purchase follows agreements by Charlie Ergen, Dish’s chairman, to buy two other companies out of bankruptcy: video-rental chain Blockbuster Inc. and DBSD North America Inc., a satellite- communications provider.
Ergen is interested in TerreStar’s wireless spectrum, which he can combine with spectrum acquired in the DBSD bankruptcy, Walter Piecyk, an analyst at BTIG LLC in New York, said in a June 28 note
