Intelsat Beats Out EchoStar for Loral Birds - Multichannel

Intelsat Beats Out EchoStar for Loral Birds

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Intelsat said a bankruptcy judge declared it the winner of an auction for Loral Space & Communications Ltd.’s North American satellite assets.

The U.S. Bankruptcy Court for the Southern District of New York is expected to approve the $1.2 billion asset sale to Intelsat this week, Intelsat said.

Charlie Ergen’s EchoStar Communications Corp. had tried to trump Intelsat with a $1.85 billion offer for all of Loral.

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