According to Bloomberg, Dish Network Chairman Charlie Ergen made a $2 billion bid last week for LightSquared's radio frequencies, which are owned by private investment firm Harbinger Capital Partners.
Bloomberg added, based on unnamed sources said to be familiar with the deal, that LightSquared has until the end of the month to make a decision.
Dish is already bogged down by other networking and communications deals floating around -- namely a $25.5 billion bid for Sprint Nextel. The nation's third-largest mobile provider was said in April to be forming a special committee to mull over the "unsolicited deal."
The latest turn of events for LightSquared appears to be near the end of the road for the beleaguered Virginia-based business.
CEO Sanjiv Ahuja stepped down in February 2012, but he stayed on with the company as chairman of the board.
At the time, it was reported that Ahuja's resignation had to do something with the Federal Communications Commission's move to block the launch of its 4G network.
A few months prior, Ahuja spoke at the Open Mobile Summit in San Francisco, arguing that there is a disparity between demand for data and the amount of available spectrum -- and that the United States is not ready to handle those problems.
, the wireless venture filed for bankruptcy.
This story originally appeared as "Report: Dish chairman bid $2B for LightSquared wireless spectrum" on ZDNet.