DirecTV to Scrap Merger With Rival Dish

DirecTV has officially terminated its agreement to acquire Dish Network and Sling TV from Echostar, citing failed bond exchange negotiations with Dish’s creditors.

Echostar’s offer to reduce Dish’s $9.75 billion debt by $70 million was rejected, leading DirecTV to withdraw to protect its financial stability.

CEO Bill Morrow emphasized DirecTV’s focus on innovation and flexibility, supported by TPG Capital, which owns a stake in DirecTV.

The decision doesn’t affect TPG’s acquisition of AT&T’s 70% stake in DirecTV, The Desk has reported.

read more: https://thedesk.net/2024/11/directv-breaks-off-dish-network-merger/#google_vignette

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