30.09.2024 17:28 Uhr, Quelle: Engadget

DirecTV to acquire rival Dish Network for $1, subject to regulatory approval

It’s always beautiful when two lonely corporations find one another. DirecTV has reached an agreement to acquire Dish Network, according to reporting by The New York Times. This would create a global behemoth in the satellite TV space. It would also provide some financial armor for the struggling Dish Network. The company’s in debt to the tune of billions of dollars because, well, satellite TV isn’t exactly a growth industry anymore. Stream, baby, stream. All told, Dish has $2 billion in debt that’s due in November and only $500 million in available cash. That math don’t add up to anything but bankruptcy. The specifics of the deal are pretty dang convoluted. It’s a multi-step transaction with a few players. First, the private equity firm TPG will acquire a majority stake in DirectTV from AT&T for $7.6 billion. Next, DirecTV will buy Dish Network for just a single dollar. However, it’ll also take on that $2 billion in debt. EchoStar, the parent company of Dish, wil

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