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DirecTV calls off acquisition of Colorado-based rival Dish, possibly ending years-long pursuit

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DirecTV 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…

Dish Network satellite dishes are shown at an apartment complex in Palo Alto, Calif., Feb. 23, 2011. is calling off its planned acquisition of Colorado-based rival Dish after the offer was rejected by bond holders at that company.

The retreat by DirecTV this week may end a years-long effort by the company to acquire both Dish and Sling after it “While we believed a combination of DirecTV and Dish would have benefited 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 a statement.resurfaced over the years.

DirecTV says that it will continue to invest in next-generation streaming platforms and offer new packaging options while integrating content from live TV alongside direct-to-consumer services.The termination of the deal doesn’t impact TPG’s acquisition of the remaining 70% stake in DirecTV from AT&T for about $7.6 billion, which is expected to close next year.

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