Dish Network bids $1.37 billion for TerreStar  This week, satellite television provider Dish Network bid $1.37 billion for TerreStar Networks, according to a bankruptcy filing.

The New York Times reports that Dish Network has been an active bidder in bankruptcies over the past year, and this week moved to acquire TerreStar in a deal that has left some analysts scratching their heads.

In April, Dish purchased Blockbuster after the company faced insolvency, and in March it acquired fellow satellite provider DBSD North America. According to The Times, Dish is favored to win the auction to buy TerreStar, which is undergoing bankruptcy proceedings. Dish is the "stalking horse" bidder, meaning it is the bidder others must try to top.

The $1.375 billion that Dish is offering "represents a significant achievement," TerreStar said, because it is in cash and $90 million more than the company's total amount of secured debt.

Analysts assert, though, that TerreStar and DBSD were both prime for acquisition because they offer increased broadband spectrum amid burgeoning demand.

The bidding deadline is set for June 27, with an auction scheduled for June 30.
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