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What matters most, he says, is "the entrepreneurs’ execution of the ideas." Full Article Top 50 small business workplaces Notes on raising seed financing Exclusive: Terrestar nears bid pact: sources Tweet Share this Email Print Related News Microsoft objects to Nortel patent sale terms Mon, Jun 13 2011 REFILE-California body to evaluate AT&T, T-Mobile deal Thu, Jun 9 2011 UPDATE 3-Globalive wins appeal backing Wind Mobile service Wed, Jun 8 2011 Bankrupt TerreStar delays bid deadline to June 15 Wed, Jun 8 2011 Telmex: DISH no substitute for Mexico TV license Tue, May 31 2011 Analysis & Opinion Fed gets a taste of painful exit strategies Nuclear plants arenâ€™t the only meltdown worry in Germany Related Topics Technology » Media » The sign in the lobby of the corporate headquarters of Dish Network is seen in the Denver suburb of Englewood, Colorado April 6, 2011. Credit: Reuters/Rick Wilking By Caroline Humer and Nick Brown NEW YORK | Tue Jun 14, 2011 7:26pm EDT NEW YORK (Reuters) - Bankrupt telecommunications company Terrestar Networks Inc TSTRT.UL is nearing a minimum bid agreement of $1.2 billion to $1.4 billion, likely with billionaire Charlie Ergen, chairman of Dish Network Corp (DISH.O), according to sources with direct knowledge of the situation. Ergen, who also controls EchoStar Corp (SATS.O), has been competing against other interested bidders, including a group of senior noteholders and wireless communications company MetroPCS Communications Inc (PCS.N), sources said. A MetroPCS spokesman said the company had no comment. The noteholder group, made up of holders of TerreStar's 15 percent senior secured notes, is made up of several investment funds, including Solus Alternative Asset Management, Archer Capital Management LP and Redwood Capital Group LLC, according to court papers. Terrestar, which filed for bankruptcy in October, faces a Wednesday deadline for bids. Its most sought-after assets include wireless airwaves, which enable wireless service providers to offer services. A Terrestar spokeswoman declined to comment. A spokesman for Dish declined to comment. Representatives for EchoStar were not immediately available for comment. The negotiations on the agreement were extended and have continued after Terrestar moved the bid deadline in its auction from June 8 to June 15, saying that it needed more time to negotiate a stalking horse offer. Its auction is slated to be held on June 22, with a sale hearing scheduled for June 28. Those dates may have to be pushed back again, however, according to sources. If the company reaches a stalking horse agreement, it will need additional time to make that offer public, they said. This is the third trip this year back to bankruptcy court for Ergen, whose Dish business already agreed to buy similar assets for $1.4 billion from bankrupt DBSD North America in March. Dish also bought Blockbuster Inc (BLOAQ.PK) in April in a bankruptcy auction. EchoStar, which is also a creditor of Terrestar's, had a proposed debt-for-equity deal in place earlier this year but walked away from it in February shortly after announcing another telecom deal to buy broadband services provider Hughes Communications Inc HUGH.O for $1.33 billion. (Additional reporting by Megan Davies and Matt Goldstein; editing by Andre Grenon, Gary Hill) 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 directly or with relevant tangential information. 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