DISH Networks' (NASDAQ:DISH) Charlie Ergen has made a cash bid of $1.38 billion to buy the assets of TerreStar Networks through a bankruptcy auction, a report on Reuters disclosed today. According to the report, DISH will allow TerreStar to extend a deadline to obtain bids for its assets to June 27 from June 15, with a court-supervised auction taking place on June 30. TerreStar has been operating under Chapter 11 bankruptcy protection since October 19. The sale of the company’s assets requires court approval.DISH has made the bid for TerreStar through its business unit, Gamma Acquisition. It is an affiliate of EchoStar (SATS), also controlled by Ergen and one of TerreStar's creditors. DISH shares are down 1.03% to $27.84.