Deals
DirecTV Plans to Cancel Dish Deal Unless Debt Swap Resolved
- DirecTV says it may terminate acquisition Nov. 22 by midnight
- Warning follows rejection by Dish bondholders of improved bid
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DirecTV intends to terminate its planned acquisition of Dish Network Corp. in just over a week’s time if bondholders don’t agree to a debt exchange.
“A successful exchange was a condition for acquiring the Dish video business,” a DirecTV spokesperson said in an emailed statement. “Given the outcome of the EchoStar exchange, DirecTV will have no choice but to terminate the acquisition of Dish by midnight on Nov. 22.”