DirecTV has agreed to acquire Dish Network, creating a major player in the satellite TV industry. DirecTV will assume Dish's $2 billion debt, a crucial move for the financially troubled company, which only has $500 million in available cash. The transaction involves private equity firm TPG acquiring a majority stake in DirecTV from AT&T, followed by DirecTV purchasing Dish for $1. Dish’s parent company, EchoStar, will retain certain assets, including $30 billion in wireless spectrum. The combined entity will have around 19 million subscribers.
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00:00It's Benzinga, and here's what's on the block.
00:03DirecTV has agreed to acquire Dish Network, creating a major player in the satellite TV
00:07industry.
00:09DirecTV will assume Dish's $2 billion debt, a crucial move for the financially troubled
00:13company, which only has $500 million in available cash.
00:17The transaction involves private equity firm TPG acquiring a majority stake in DirecTV
00:22from AT&T, followed by DirecTV purchasing Dish for $1.
00:27Dish's parent company, EchoStar, will retain certain assets, including $30 billion in wireless
00:32spectrum.
00:33The combined entity will have around 19 billion subscribers.
00:36For all things money, visit Benzinga.com.