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Liberty Media, Echostar to Bid for Intelsat: WSJ

Reuters
Thursday, 14 Jun 2007 | 5:15 AM ET

Liberty Media and EchoStar Communications are preparing a joint offer for satellite-communications provider Intelsat, The Wall Street Journal's online edition said on Thursday.

Intelsat, which is accepting final bids for its auction on Thursday, could fetch more than $5.5 billion, the Journal said.

The pairing represents a bold cooperation between satellite-TV broadcaster EchoStar and media holding company Liberty , the Journal said. Liberty is slated to take control of competing satellite-broadcaster DirecTV Group . But the two could decide against a formal bid, it added.

Neither Liberty Media not Echostar immediately returned calls seeking comment.

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