Loral Birds to DirecTV


Three of Loral Space & Communications Ltd.’s North American satellites will go to DirecTV Inc., not EchoStar Communications Corp., Reuters reported.

A U.S. Bankruptcy Court approved the sale Wednesday, rejecting EchoStar’s bid.

EchoStar offered $200 million earlier this month for a Loral bird earmarked for DirecTV's local programming, as well as promising to buy three more satellites. Its offer led DirecTV to raise its offer to $165 million from $140 million.

Also earlier in October, Loral rejected a $1.85 billion offer by EchoStar for the entire company.