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DirecTV Terminates Acquisition of Dish Network, EchoStar Deal
Nov 22, 2024, 02:47 AM
DirecTV has decided to terminate its planned acquisition of Dish Network. The decision follows the rejection of a debt exchange offer by Dish's bondholders, which was a critical condition for the merger. This marks another failed attempt by the two satellite-TV companies to consolidate their operations, which they have tried several times. The news was confirmed by multiple sources, including Axios and WSJ, and highlights the challenges faced by the companies in securing necessary approvals from stakeholders. DirecTV also terminated its agreement to acquire EchoStar's video distribution business.
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