TerreStar receives offer of $1.38 billion from Dish Network

Charles Ergen, billionaire owner of Dish Network Corpn, offered U$1.38 billion to buy assets of Terre Star Networks in an auction held under supervision of Manhattan Bankruptcy Court, as its assets were under chapter 11 bankruptcy protection since late last year. Some of its most lucrative assets include wireless airwaves used by service providers. In fact, its stalking horse bid help erstwhile creditors to get their dues after completion of sale. In fact, Charles Ergen is on acquisition spree through this process for third time in a row, since beginning of this year.

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Dish Network offers $1.38 billion for TerreStar