Wireless venture LightSquared has reached a deal for a short-term bankruptcy loan from the holders of its bank debt, a group that includes Dish Network Corp. Chairman Charlie Ergen, the Wall Street Journal reported today. The $33 million loan proposal comes three days after LightSquared said for the first time that it would include Ergen in its reorganization plan. A hearing on the loan, which would keep LightSquared afloat as it negotiates a restructuring proposal, is set for today. As recently as last week, Ergen, a group of hedge funds holding LightSquared’s bank debt, and Fortress Investment Group LLC had all proposed separate loans.
