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Friday, June 27, 2014

LightSquared reaches bankruptcy deal, without Ergen, (NASDAQ: DISH)

LightSquared has reached a mediated deal to bring the wireless communications company out of its Chapter 11 bankruptcy, according to report from the mediator who lashed out at Charles Ergen, a large creditor and satellite TV mogul. "All of the parties to the mediation have agreed on the key business terms of a chapter 11 plan for the debtors that should be confirmable without the support of the one party, SPSO," wrote mediator Robert Drain in a court filing. SPSO is the investment vehicle of Ergen, who is chairman of Dish Network .

DISH Network Corporation is a pay-television (TV) provider, with approximately 13. Shares of DISH traded higher by 2.95% or $1.88/share to $65.64. In the past year, the shares have traded as low as $41.33 and as high as $64.52. On average, 2775840 shares of DISH exchange hands on a given day and today's volume is recorded at 4628803.