DirecTV Calls Off Plans to Acquire Dish Network [The New York Times]
EchoStar Corporation - Common stock (SATS)
Last echostar corporation - common stock earnings: 2/20 06:00 am
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Source: The New York Times
A second attempt at a major media deal seems to be heading in the same direction it did the first time around — in failure.DirecTV is calling off its plans to acquire the rival satellite TV giant, Dish Network, after Dish’s lenders refused to agree to the terms of the deal,DirecTV said Thursday nightsaid in SeptemberThe acquisition would have created one of the largest pay-TV providers in the United States.“They are both certain they will win, and so felt they were better off walking away than compromising,” Jonathan Chaplin, an analyst at New Street Research, said. “One of those parties has made a mistake. Unfortunately, it will take a while to figure out which one.Bill Morrow, the chief executive of DirecTV, said in a statement that the company terminated the transaction because it believed the proposed terms were necessary to preserve’s DirectTV’s “operational flexibility.” He added that the company “will advance our mission to aggregate, curate and distribute content tailored to c
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