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Due to the failure of the debt swap, DirecTV has terminated its acquisition of echostar (SATS.US) subsidiary Dish.
The usa satellite television provider DirecTV announced on Thursday that it has terminated the agreement to acquire echostar's satellite television business due to the failure of a debt exchange proposal.
EchoStar Unit's Merger Deal With DirecTV Falls Apart Over Failed Debt Swap
Satellite television provider DirecTV has terminated the trade to acquire Dish TV.
According to Reuters on November 22, Gelonghui reported that the USA satellite television provider DirecTV announced on Thursday that it has terminated its agreement to acquire Echostar's satellite television business, which includes its competitor Dish TV, due to the failure of the debt exchange proposal. If the trade had been completed, it was expected to create one of the largest pay tv distributors in the USA with 20 million subscribers. DirecTV stated that the termination of the agreement will take effect on Friday.
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Express News | Directv - Termination Follows Dish DBS Noteholders' Failure to Agree to Proposed Exchange Debt
Express News | Directv: Notified EchoStar of Its Election to Terminate, Effective as of 11:59 P.m., Et on Friday, November 22Nd, 2024
Express News | Directv - Termination of Dish Acquisition Does Not Affect TPG's Acquisition of Remaining 70% Stake in Directv From AT&T
Express News | RPT-Directv Announces Termination of Agreement to Acquire EchoStar's Video Distribution Business
DIRECTV Announces Termination of Agreement to Acquire EchoStar's Video Distribution Business
Express News | Directv to Spike Dish Deal Over Debt Swap Exchange - Axios