Dish-DirecTV Deal Sparks Creditor Revolt Over $1.6 Billion Loss
- Creditors gain blocking position to force concessions
- Tie-up needs creditors to grant consent to debt exchange
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Creditors to US satellite television firm Dish Network plan to block a distressed exchange that’s a key part of its tie-up with rival DirecTV, according to people familiar with the matter.
A group of steering committee investors has gained a blocking position in order to negotiate with the company, the people said. They may even explore a better outcome through litigation, said some of the people.