DirecTV Scraps Dish Acquisition as Bondholders Push Back on Satellite-TV Merger [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
Bondholders of Dish and subsidiary DBS had pushed back on the terms parent EchoStar had agreed upon to clinch the deal. DirecTV would have assumed billions of dollars of debt to take on Dish and create a merged pay-TV giant. DirecTV said Thursday night it has scrapped its acquisition of Dish Network, after decades of failed attempts at mergers by the two satellite rivals. DirecTV said that it has notified Dish owner EchoStar ( SATS ) it plans to cancel the deal at 11:59 p.m. ET Friday, after bondholders in Dish and subsidiary DBS pushed back. According to The Wall Street Journal , bondholders representing around $10.7 billion of debt in Dish and DBS balked at a deal that "would have forced them to take a roughly $1.5 billion haircut on their holdings in exchange for more secure debt in the soon-to-be-merged satellite-TV company." In September, EchoStar said that it would sell its video distribution operations, including Dish and streaming service Sling TV, to DirecTV for a
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News
- 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
- DirecTV terminates Dish deal over failed debt swap [USA TODAY]USA TODAY
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