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Edition: U.S. Article Comments (0) Follow Reuters Facebook Twitter RSS YouTube Read White House snubs McConnell invitation to Obama 12:51pm EDT U.S. caught China buying more debt than disclosed 12:47pm EDT Putin says Russian 2012 election will be dirty 8:34am EDT NATO air strike kills fighter linked to Afghan hotel attack 12:46pm EDT "Tudors" star Rhys Meyers hospitalized: report 3:29pm EDT Discussed 99 Top Republicans insist no taxes in debt deal 71 U.S. cost of war at least $3.7 trillion and counting 65 Bachmann facing scrutiny as top-tier candidate Watched A Tokyo-Paris flight in under three hours on the horizon Fri, Jun 24 2011 Austerity vote passed amid violent Greek protests Wed, Jun 29 2011 Hefner's revenge; Ryan Reynolds stops traffic Fri, Jun 17 2011 Court set to approve DBSD's $1.4 billion sale to Dish Tweet Share this Email Print Related News Lehman files new bankruptcy plan Wed, Jun 29 2011 UPDATE 4-Lehman adds creditor support, new bankruptcy plan Wed, Jun 29 2011 UPDATE 4-Madoff judge: Feeder fund investors cannot recover Tue, Jun 28 2011 New York top court revives banks' lawsuit vs MBIA Tue, Jun 28 2011 Los Angeles Dodgers baseball team files bankruptcy Mon, Jun 27 2011 Analysis & Opinion Lightsquared loans suffer from interference 10 marketing lessons for early stage tech startups Related Topics Technology » Media » By Nick Brown NEW YORK | Thu Jun 30, 2011 1:08pm EDT NEW YORK (Reuters) - A U.S. bankruptcy judge is prepared to approve a plan to bring DBSD North America out of bankruptcy by selling the telecommunications company to Dish Network Corp (DISH.O) for about $1.4 billion. Judge Robert Gerber green-lighted the sale at a hearing in U.S. Bankruptcy Court in Manhattan on Thursday, but said he would wait to enter an official order to give Dish an opportunity to respond to a change in the plan's language. If approved, the deal would represent the third major acquisition for Dish this year. The company on Monday won an auction to buy TerreStar Networks Inc TSTRT.UL, another bankrupt telecommunications company, for $1.375 billion. In April, it completed a deal to buy bankrupt Blockbuster Inc (BLOAQ.PK) for $320 million. DBSD, a satellite and land-based communications company, went bankrupt in May 2009 on the heels of a liquidity drought brought on by the financial crisis. The company listed debts of $813 million. Its sale to Dish would pay creditors in full. More than 97 percent of claims against DBSD are held by Dish, which acquired them through a tender offer. Ryan Bennett, an attorney for DBSD, said the timetable for closing the deal is uncertain, but is likely still months away. Assuming the sale goes ahead, it would continue the growth of billionaire Charles Ergen's satellite empire. Ergen controls Dish and set-top box maker EchoStar Corp (SATS.O), which recently bought Hughes Communications Inc HUGH.O for $1.33 billion. DBSD's original reorganization plan was put aside in December 2010 after a U.S. appeals court ruled that it violated bankruptcy law. An amended investment agreement with Dish was approved in March, and Bennett said the terms of the sale are consistent with that agreement. Gerber said he will not enter a confirmation order until Dish has had a chance to respond to a tweak in the language of the plan that preserves Sprint Nextel Corp's (S.N) right to pursue claims against DBSD over obligations to clear spectrum bands to make room for new occupants. Sprint has levied a $104 million claim against DBSD, but said it wanted to make sure its equitable and contractual claims, as opposed to strictly financial claims, were not impaired by the plan. The case is DBSD North America Inc, U.S. Bankruptcy Court, Southern District of New York, No. 09-13061. (Reporting by Nick Brown. Editing by Robert MacMillan) Technology Media Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. 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