DirecTV calling off Dish Network takeover after bondholders balk
DirecTV has notified EchoStar Corp. of its intention to terminate an acquisition of Dish Network Corp. after it failed to win the consent of bondholders for a key debt exchange, all but killing a deal to create the largest U.S. pay-TV service.
The proposed deal, initially announced in September, was seen as a strategic consolidation in a shrinking pay-TV market.
Dish Network Corp. creditors rejected the US satellite-television provider’s bond-exchange offer, as the deadline arrives ...
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