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Dish withdraws $2.2 billion bid for Lightsquare's wireless spectrum

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You might want to hold off on thinking of a portmanteau for Dish and Lightsquared. The satellite TV company has officially withdrawn its $2.2 billion bid for the ailing firm's wireless spectrum, despite actively pursuing the acquisition last year. In fact, Lightsquared even filed a case against Dish chairman Charles Ergen for allegedly purchasing $1 billion of its debts (illegally, that is) in an effort to take over. While this is the latest in Dish's string of failed acquisition attempts -- remember Sprint and Clearwire last year? -- it's likely not the end of the company's wireless dreams. Lightsquared's lawyers believe the move might just be a ploy to force the company to sell for a lower offer, so the saga might continue. Dish is also testing a fledgling LTE broadband service in Virginia and Texas, with hopes of making it available to the rest of rural America in the future. Besides, 2014 has just begun -- Dish has a whole year ahead of it to set its sights on yet another company to buy.

Source: Reuters
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