Reported 8 months ago
DirecTV has announced it will terminate its planned acquisition of Dish Network due to the failure to secure bondholder approval for a critical debt exchange. This decision effectively ends a deal that aimed to create the largest pay-TV provider in the US. DirecTV's CEO, Bill Morrow, stated that the proposed terms were necessary for maintaining the company’s financial stability. Despite the cancellation, TPG's planned acquisition of AT&T’s stake in DirecTV remains unaffected.
Source: YAHOO