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LightSquared Update 1/9/14 - Dish Network Drops Bid

Thursday, January 9th 2014
By Adena Schutzberg

A lawyer for an official committee appointed to oversee any potential LightSquared auction confirmed that Dish had pulled its $2.2 billion for LightSquared bid. LightSquared lenders and shareholders had opposed the bid.

Dish shares fell 3 percent, as investors had considered a deal with LightSquared a good way for the company to expand its spectrum holdings.

- Reuters

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