US satellite TV provider DirecTV has terminated its agreement to acquire Echostar’s satellite television business, which includes rival Dish TV.
The deal would have created one of the largest pay TV distributors in the United States, with a combined 20 million subscribers.
As part of the transaction, DirecTV was to pay $1 to buy the pay TV business called Dish DBS, including Dish and Sling TV, with the assumption of about $9.75 billion of Dish’s debt.
The proposed deal, initially announced in September, was seen as a strategic consolidation in a shrinking pay TV market.
DirecTV and Dish have held on-and-off talks over the years.
Persons:
Bill Morrow, Charlie Ergen
Organizations:
DirecTV, Dish TV, DBS, Dish
Locations:
United States