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Sector Update: Tech Stocks Lean Lower Premarket Friday
Sector Update: Tech
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.
DirecTV to Scrap Merger With Rival Dish -- WSJ