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Stock impact report

DirecTV said it plans to abandon its Dish merger [CNN]

EchoStar Corporation - Common stock (SATS) 
Last echostar corporation - common stock earnings: 2/20 06:00 am Check Earnings Report
US:NASDAQ Investor Relations: ir.echostar.com/investors
Company Research Source: CNN
A group of Dish bondholders on Monday rejected the proposed debt-exchange offer from DirecTV that was contingent upon them accepting a “haircut” of $1.5 billion. “A successful exchange was a condition for acquiring the Dish video business,” a DirecTV spokesperson told Reuters in an emailed statement. “Given the outcome of the EchoStar exchange, DirecTV will have no choice but to terminate the acquisition of Dish by midnight on Nov. 22.” EchoStar and Dish did not immediately respond to Reuters requests for comment. Ad Feedback The proposed deal, initially announced in September , was seen as a strategic consolidation in a shrinking pay-TV market as both DirecTV and Dish face intensifying competition from streaming services. As part of the two-step transaction, DirecTV was to pay $1 to buy the pay TV business called Dish DBS that includes Dish and Sling TV, while agreeing to assume about $9.75 billion of Dish's debt. Dish and DirecTV launched an exchange offer at a discount Show less Read more
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