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DirecTV Abandons Deal to Acquire Dish Amid Bondholder Opposition

The Hollywood Reporter
tech
news
united states
business
directv
Story by Georg Szalai
from The Hollywood Reporter
Image from The Hollywood Reporter
scrn logline
DirecTV abandons deal to acquire rival Dish TV amid bondholder opposition, leaving future uncertain for the two satellite giants.
beat sheet
  • The proposed $1 billion+ deal would have created the largest U.S. pay-TV distributor with over 19 million subscribers, but bondholders rejected DirecTV's debt-exchange offer.
  • DirecTV CEO Bill Morrow says the company will move forward with innovative products and provide customers more choice, even as its parent company TPG prepares to complete a buyout of the remaining 70% stake.
call sheet
Bill Morrow, Charlie Ergen, DirecTV, EchoStar, Dish Network, Dish TV, Sling TV, TPG
Read the source