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DISH Network to buy satellite operator
Posted: Wed, Feb 2, 2011, 7:53 AM ET (1253 GMT)
ICO G1 (DBSB North America G1) satellite illustration DISH Network, which owns a fleet of direct-to-home TV broadcasting satellites, announced Tuesday it would buy a bankrupt satellite operator for $1 billion. DISH said it will acquire 100 percent of DBSD North America (formerly known as ICO North America), including its one satellite currently in geosynchronous orbit. DBSD North America planned to set up a hybrid communications system using its satellite and a terrestrial network to provide voice, video, and data services in the US, but filed for Chapter 11 bankruptcy protection in 2009. In its statement announcing the acquisition, DISH provided no details about its plans for the company or its satellite, although some analysts speculate DISH is primarily interested in the S-band spectrum that DBSD has a license for.
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