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Dish reportedly backing out of $2.2 billion bid for wireless provider LightSquared


US satellite provider Dish is reportedly retracting a bid worth $2.2 billion for bankrupt wireless provider LightSquared. The Wall Street Journal says that Dish, who bid for LightSquared in May last year, could confirm the termination of the offer this week. Dish, better known for its satellite TV service, has spent the last two years trying to diversify its services and become a true ISP. It bid for LightSquared in May of 2013, primarily to gain access to its spectrum, after a series of unsuccessful corporate maneuvers.

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