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By Mike Farrell -- Multichannel News, 2/13/2012 12:01:00 AM
Dish Gets Canadian Approval for TerreStar SwitchENGLEWOOD, COLO. – Dish Network said Feb. 7 that the Canadian regulatory body Industry Canada has approved the transfer of TerreStar’s Canadian wireless spectrum licenses to the satellite giant.
“In granting its approval, Industry Canada reached the conclusion that the transfer would be in the public interest in light of ‘the capacity that would be available in Canada,’ among other reasons,” Dish said in a statement. Dish, which is still awaiting the nod from the U.S. Federal Communications Commission, said it would immediately close the TerreStar transaction once it receives FCC approval.
The FCC has not made its decision yet, but has been supportive from a policy standpoint of promoting new competitive wireless broadband service to compete with established players, including the hybrid satellite terrestrial proposal from LightSquared.
“Dish believes that immediate Commission approval will be a win for consumers, competition, infrastructure investment, and American jobs,” the company said in a statement. Dish agreed to purchase TerreStar out of bankruptcy protection in July for about $1.375 billion.
TerreStar controls about 20 MHz of wireless spectrum and coupled with an additional 20 MHz of spectrum controlled by DBSD North America — which Dish agreed to purchase last February for $1.4 billion, could provide the building blocks for the satellite giant’s own hybrid satellite/terrestrial broadband wireless network.
Plum TV Auction Set for March 1
NEW YORK — A public auction will be held at U.S. Bankruptcy Court for the Southern District of New York on March 1 for the assets of Plum TV, the collection of local cable channels serving resorts and upscale communities that filed for bankruptcy protection in January.
Included in the auction will be assets such as intellectual property, “Plum TV” brand trademarks, domain names and web sites; two FCC broadcast licenses (Aspen, Colo., and Sun Valley, Idaho); audio/video tape/digital file content library, and related intellectual property; customer list; and furniture, fixtures, and equipment utilized in the conduct of Plum’s business, as well as certain executory contracts and real property leases or licenses.
Plum has received a “stalking horse” offer from PMG Media Group LLC for about $1.07 million, plus discharge of approximately $14 million of secured noteholder debt. At the auction, Plum will consider higher and better offers. Interested bidders should contact SilvermanAcampora LLP; Phone: (516) 479-6300; Adam L. Rosen (Arosen@SilvermanAcampora.com) or Robert Nosek (Rnosek@SilvermanAcampora.com). All offers are subject to bankruptcy court approval.
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