DirecTV has dropped its plans to acquire Dish, the company announced Thursday. The deal would’ve created a TV service megamerger, but it fell through after Dish bondholders rejected the takeover. In September, DirecTV reached an agreement to acquire Dish, Sling TV, and EchoStar’s TV business for just one dollar, while also taking on Dish’s $9.75 billion in debt.
“While we believed a combination of DIRECTV and DISH would have benefitted all stakeholders, we have terminated the transaction because the proposed Exchange Terms were necessary to protect DIRECTV’s balance sheet and our operational flexibility,” DirecTV CEO Bill Morrow said in the press release. This isn’t the first time a deal between DirecTV and Dish has soured. The Federal Communications Commission blocked a merger between both companies in 2002.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
DirecTV calls off acquisition of rival Dish, possibly ending a yearslong pursuitDirecTV is calling off its planned acquisition of rival Dish after the offer was rejected by bond holders at that company. The deal was reliant on Dish
Source: Mynorthwest - 🏆 438. / 53 Read more »
DirecTV calls off acquisition of rival Dish, possibly ending a yearslong pursuitDirecTV is calling off its planned acquisition of rival Dish after the offer was rejected by bond holders at that company
Source: ABC - 🏆 471. / 51 Read more »
DirecTV calls off acquisition of rival Dish, possibly ending a yearslong pursuitDirecTV is calling off its planned acquisition of rival Dish after the offer was rejected by bond holders at that company.
Source: ksatnews - 🏆 442. / 53 Read more »
DirecTV calls off acquisition of rival Dish, possibly ending a yearslong pursuitDirecTV is calling off its planned acquisition of rival Dish after the offer was rejected by bond holders at that company.
Source: wjxt4 - 🏆 246. / 63 Read more »
DirecTV calls off acquisition of Colorado-based rival Dish, possibly ending years-long pursuitDirecTV was looking to acquire Dish TV and Sling TV from its owner, Englewood-based EchoStar, in a debt exchange transaction that included a payment of $1, plus the assumption of approximately $9.8…
Source: denverpost - 🏆 13. / 72 Read more »