The Wall Street Journal
, citing people familiar with the matter, said Intelsat is expected to draw bids of $4.5 billion to $5.5 billion, though it didn't specify what Liberty and EchoStar may offer. Intelsat's private-equity owners have put the company up for auction, and bids are due Thursday.
A Liberty-EchoStar team is somewhat unconventional, because Liberty is in the process of taking control of EchoStar satellite-broadcast rival
. According to the
, the two companies believe acquiring Intelsat would help each substantially reduce operating costs.
Shares of Liberty Media Interactive, one of Liberty's tracking stocks, were up 25 cents, or 1%, to $25.06. EchoStar, which also was in the news because of a
partnership with wireless-broadband outfit
, was up 52 cents, or 1.2%, to $45.45.