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DirecTV Terminates Deal To Buy Dish Satellite Business
An anonymous reader quotes a report from Ars Technica: DirecTV is pulling out of an agreement to buy its satellite rival Dish after bondholders objected to terms of the deal. DirecTV issued an announcement last night saying "it has notified EchoStar of its election to terminate, effective as of 11:5...
An anonymous reader quotes a report from Ars Technica: DirecTV is pulling out of an agreement to buy its satellite rival Dish after bondholders objected to terms of the deal. DirecTV CEO Bill Morrow indicated his company wasn't willing to change the deal to satisfy Dish bondholders. "We have terminated the transaction because the proposed Exchange Terms were necessary to protect DirecTV's balance sheet and our operational flexibility," Morrow said.
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