The U.S.’s two satellite TV providers aren’t getting hitched anymore, at least anytime soon.
DirecTV on Thursday formally announced that it was nixing the agreement with EchoStar to buy Dish Network. The deal is being terminated effective as of 11:59 p.m. ET on Nov. 22, DirecTV said.
DirecTV’s official termination of the agreement follows Dish DBS bondholders’ rejection of the proposed exchange debt offer terms issued by EchoStar, which was a condition of DirecTV’s obligations to acquire Dish. On Nov. 12, Dish’s creditors turned down the offer to exchange their debt for new debt in the merged DirecTV-Dish at a discounted rate (under which they would have
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