DirecTV will pay $1 and assume $9.75B worth of debt to buy Dish and Sling.
DirecTV announced Monday that they are buying EchoStar’s video distribution business, including Dish TV and Sling TV, as the company seeks to better compete against streaming services that have become dominant.On Sept. 30, DirecTV said they would acquire the services through a debt exchange transaction that includes a payment of $1, plus the assumption of approximately $9.8 billion in debt.
It's hoping this will appeal to those who have left satellite video services for streaming. The company said that combined, DirecTV and Dish have collectively lost 63% of their satellite customers since 2016.As subscription prices for traditional satellite TV increased and the desire for on-demand viewing surged, more households began to cut the cord from traditional satellite providers.
News Entertainment Us Organization Netflix Us Business
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
DirecTV to acquire Dish Network, Sling TV for $1The deal would provide a loan to Dish parent EchoStar Communications and also prompt the departure of AT&T from its ownership of DirecTV.
Read more »
US satellite-TV providers DirecTV and Dish are in talks to merge again, source saysUS satellite-TV providers DirecTV and Dish are in talks to merge again, source says
Read more »
DirecTV buys rival Dish as satellite mainstays hunker down against onslaught of streaming servicesDirecTV is buying Dish and Sling, a deal it has sought to complete for years, as the company seeks to better compete against streaming services that have become dominant.
Read more »
DirecTV Could Acquire Rival Dish NetworkDirecTV, partially owned by private equity firm TPG, is reportedly in talks to acquire its rival satellite TV provider Dish Network. The deal would ease EchoStar's financial burden as the current owner of Dish Network faces upcoming debt payments. DirecTV also aims to benefit from cost-cutting measures and gain control of Dish Network's streaming service Sling TV.
Read more »
DirecTV will buy rival Dish to create massive pay-TV company after yearslong pursuitSource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Read more »
DirecTV-Disney dispute takes USC-LSU opener off the air for DirecTV customersA dispute between DirecTV and Disney led to a blackout of ABC on DirecTV Sunday, leaving customers unable to watch USC-LSU.
Read more »