Comment on DirecTV calls off acquisition of Colorado-based rival Dish, possibly ending years-long pursuit

DirecTV calls off acquisition of Colorado-based rival Dish, possibly ending years-long pursuit

DirecTV is calling off its planned acquisition of Colorado-based rival Dish after the offer was rejected by bond holders at that company. The deal was reliant on Dish bond holders agreeing to trade in the debt they held for debt in the new company, a swap that would have cost them about $1.6 billion, collectively. The retreat by DirecTV this week may end a years-long effort by the company to acquire both Dish and Sling after it announced the bid in September. DirecTV was looking to acquire Dish TV and Sling TV from its owner, Englewood-based EchoStar, in a debt exchange transaction that included a payment of $1, plus the assumption of approximately $9.8 billion in debt.

 

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