Dish Network is reportedly pulling its bid for LightSquared, the wireless service provider mired in bankruptcy protection.
The satellite TV provider, which had apparently sought LightSquared's wireless spectrum, offered $2.2 billion for the company last year. However, LightSquared's special committee has decided to negotiate a deal with private-equity firm Centerbridge Partners, which last month offered $3.3 billion for the wireless company.
Dish is expected to make the termination of its offer official as early as Thursday, according to the Wall Street Journal. CNET has contacted Dish for comment on the matter and will update this report … Read more