NEW YORK-Bankrupt satellite communications company Loral Space & Communications has received an offer from EchoStar Communications Corp. for its six North American telecommunications satellites. EchoStar also indicated interest in acquiring the balance of Loral’s Fixed Satellite Services fleet and its satellite manufacturing assets.
The offer competes with a bid from Intelsat in July to buy Loral’s six North American satellites for up to $1.1 billion.
“EchoStar’s interest reconfirms the value of the assets assembled by Loral over the years,” said Bernard Schwartz of Loral. “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.”
