DirecTV Abandons Deal to Acquire Dish Amid Bondholder Opposition

Image from The Hollywood Reporter

• 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.