DirecTV abandons massive Dish acquisition after bondholders reject the debt-heavy deal, scrapping plans to create the top US pay-TV provider.
beat sheet
Bondholders opposed DirecTV's proposal to assume EchoStar's substantial debt, torpedoing the merger that would have combined the two satellite TV giants.
The failed deal leaves DirecTV and Dish in a weakened position, facing growing competition from streaming services as the traditional pay-TV model continues to erode.