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MetroPCS Sniffing Around TerreStar's Assets

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Dec 16, 2010, 5:20 PM by Eric M. Zeman

According to sources cited by the Wall Street Journal, MetroPCS is one of a handful of companies exploring a bid for TerreStar's assets. TerreStar provides hybrid satellite-cellular voice and data services in cooperation with AT&T. TerreStar operates the satellite and AT&T operates the cellular network. The company began selling its first smartphone earlier this year, only to soon declare bankruptcy. MetroPCS is interested most in TerreStar's spectrum licenses, which it could use to patch holes in its own cellular network. TerreStar owes creditors $1 billion. Any bids for the company's assets would have to exceed that amount. The auction is scheduled to take place in late January or early February of 2011. Neither MetroPCS nor TerreStar has provided official comment on the matter, though TerreStar did confirm that it is in contact with at least two bidders.

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