DirecTV cancels agreement to merge with Dish Network
(CNN)– DirecTV is backing out of a proposed deal with EchoStar to buy rival Dish Network. The deal hinged on Dish bondholders exchanging their debt for new debt in the merged company at a discounted rate. It would have cost them about $1.5 billion, but the creditors rejected that last week.
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DirecTV has notified EchoStar Corp. of its intention to terminate an acquisition of Dish Network Corp. after it failed to win ...
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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