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EchoStar Mulls Offer for Loral Space's Assets

The satellite TV provider could pay $1.45 billion for the bankrupt satellite maker's assets.
Author:

EchoStar Communications

(DISH) - Get Report

is considering a $1.45 billion offer for the assets of bankrupt satellite operator and maker

Loral Space & Communications

(LRLSQ)

.

"EchoStar's interest reconfirms the value of the assets assembled by Loral over the years," said Loral CEO Bernard L. Schwartz. "We will consider all bids received very carefully, noting that our current plan is to emerge from the bankruptcy process with a viable, ongoing satellite services and manufacturing business."

(

TSC's

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Scott Moritz covered Loral's

bankruptcy filing last month.)

Reuters

reported that EchoStar said Monday it could be interested in buying Loral's North American assets for $5 million more than

Intelsat's

$1 billion offer, and could potentially pay $450 million more for the rest of Loral's assets.

Intelsat was approved as the lead bidder for Loral's North American assets on Monday in U.S. Bankruptcy Court in New York,

Reuters

reported. The final deadline for bids is Oct. 15, with the auction scheduled for Oct. 20.