DirecTV Threatens to Walk Away From Dish Acquisition Over Debt Exchange Dispute [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
“A successful exchange was a condition for acquiring the Dish video business,” a DirecTV spokesperson told TheWrap. “Given the outcome of the EchoStar exchange, DirecTV will have no choice but to terminate the acquisition of Dish by midnight on Nov. 22.” A spokesperson for Dish parent company EchoStar did not immediately return TheWrap's request for comment. The threat comes after Bloomberg reported that a group of Dish's bondholders rejected a revised offer put forward by DirecTV at the end of October, which would've lowered the minimum loss on $8.9 billion of bonds by $70 million to $1.5 billion. The deadline to accept the offer was extended to 5 p.m. ET on Tuesday. During EchoStar's third quarter 2024 earnings call on Tuesday, CEO Hamid Akhavan told analysts that Dish would have a path forward whether the transaction closes or not. The deal is expected to close by the fourth quarter of 2025. As part of the deal, DirecTV, private equity firm TPG Angelo Gordon and certain co
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SATS
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- 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