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DirecTV to Acquire EchoStar's Dish TV and Sling TV for $1, Creating Largest US Pay-TV Provider in $11.7B Debt Exchange Deal

Sep 30, 2024, 12:19 PM

DirecTV has announced an agreement to acquire EchoStar's video distribution business, including Dish TV and Sling TV, for a nominal $1 and the assumption of approximately $9.75 billion in debt. The merger, which has been in discussion for decades, will create the largest pay-TV provider in the United States with around 20 million subscribers. This strategic move is expected to save the combined entity $1 billion annually in costs and strengthen its position against streaming services. The transaction, structured as a debt exchange deal worth $11.7 billion, also involves TPG buying AT&T's stake in DirecTV. The deal is subject to regulatory approval.