Wednesday, August 16, 2006

Satellite Providers Bow Out of U.S. Wireless Sale

A Reuters mewswire article, via CNN/Money, reports that:

A joint venture of rival satellite television providers DirecTV and EchoStar Wednesday bowed out of a government sale of valuable licenses for advanced wireless services.

The Wireless DBS venture initially showed strong interest in the auction and had paid the largest deposit of all 168 bidders that qualified for the sale, $972.5 million.

However, since Monday the group substantially reduced its participation. Media conglomerate Liberty Media was also part of the satellite television bidding consortium.

More here.


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