DirecTV calls off acquisition of satellite TV rival Dish — as lenders revolt [Yahoo! Finance]
EchoStar Corporation - Common stock (SATS)
Last echostar corporation - common stock earnings: 2/20 06:00 am
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Source: Yahoo! Finance
The deal would have created one of the largest pay TV distributors in the country with a combined 20 million subscribers. As part of the deal, DirecTV was set to pay EchoStar $1 for the pay TV buisness called Dish DBS, which included Dish and Sling, as well as the assumption of about $9.75 billion of Dish's debt. In addition, Dish bondholders had to agree to exchange their debt for new debt in the merged company at a discounted rate, taking a haircut of roughly $1.57 billion on the debt. Dish bondholders recently rejected that proposal. “We have terminated the transaction because the proposed exchange terms were necessary to protect DirecTV's balance sheet and our operational flexibility,” Bill Morrow, CEO of DirecTV, said Thursday. Morrow added: “DirecTV will advance our mission to aggregate, curate, and distribute content tailored to customers' interests by pursuing innovative products and providing customers with additional choice, flexibility, and control.” The CEO said t
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SATS
News
- DirecTV and Dish's on-and-off merger saga switches back to off [Verge, The]Verge, The
- How major US stock indexes fared Friday, 11/22/2024 [Yahoo! Finance]Yahoo! Finance
- How major US stock indexes fared Friday, 11/22/2024 [Yahoo! Finance Canada]Yahoo! Finance Canada
- DirecTV Scraps Merger With Rival Dish [Yahoo! Finance]Yahoo! Finance
- DirecTV Calls Off Plans to Acquire Dish Network [The New York Times]The New York Times
SATS
Earnings
- 11/12/24 - Miss
SATS
Sec Filings
- 11/14/24 - Form 4
- 11/14/24 - Form SC
- 11/14/24 - Form S-3ASR
- SATS's page on the SEC website