FILE - Dish Network satellite dishes are shown at an apartment complex in Palo Alto, Calif., Feb. 23, 2011. DirecTV is calling off its planned acquisition of rival Dish after the offer was rejected by bond holders at that company.
DirecTV was looking to acquire Dish TV and Sling TV from its owner EchoStar in a debt exchange transaction that included a payment of $1, plus the assumption of approximately $9.8 billion in debt. The deal was contingent on several factors, including regulatory approvals and bondholders writing off debt related to Dish.
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.
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