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DIRECTV CALLS OFF ACQUISITION OF RIVAL DISH.POSSIBLY ENDING A YEARSLONG PURSUIT
AppleMagazine
|November 29, 2024
DirecTV is calling off its planned acquisition of rival Dish after the offer was rejected by bond holders at that company.
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The deal was reliant on Dish bond holders agreeing to trade in the debt they held for debt in the new company, a swap that would have cost them about $1.6 billion, collectively.
The retreat by DirecTV may end a years-long effort by the company to acquire both Dish and Sling after it announced the bid in September.
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.
This story is from the November 29, 2024 edition of AppleMagazine.
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