DirecTV will abandon its acquisition of Dish assets after bondholders rejected a proposed debt exchange, a condition required for the deal's success. The acquisition involved DirecTV assuming $10 billion in debt and paying $1 for Dish DBS. The failed DirecTV deal leaves Dish vulnerable amid the ongoing decline of pay TV. EchoStar shares dropped nearly 13% following disappointing earnings.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02DirecTV will abandon its acquisition of DISH assets after bondholders rejected a proposed
00:07debt exchange, a condition required for the deal's success. The acquisition involved DirecTV
00:12assuming $10 million in debt and paying $1 for DISH DBS. The failed DirecTV deal leaves DISH
00:19vulnerable amid the ongoing decline of pay TV. Echo Star shares dropped nearly 13 percent
00:25following disappointing earnings.
00:26For all things money, visit Benzinga.com slash GSTV.