DirecTV is no longer planning to acquire EchoStar’s satellite business Dish.
According to DirecTV, the decision follows DISH DBS noteholders’ failure to agree to a proposed Exchange Debt Offer Terms issued by EchoStar.
“While we believed a combination of DirecTV and Dish would have benefitted all stakeholders, we have terminated the transaction because the proposed Exchange Terms were necessary to protect DirecTV’s balance sheet and our operational flexibility,” said Bill Morrow, CEO of DirecTV. ” DirecTV will advance our mission to aggregate, curate, and distribute content tailored to customers’ interests by pursuing innovative products and providing customers with additional choice, flexibility, and control. We are well positioned for the future with a strong balance sheet and support from our long-term partner TPG.”
In September, DirecTV announced it would acquire EchoStar’s video distribution business, including DISH TV and Sling TV, in exchange for a nominal of $1 but will also take on DISH DBS net debt.
Combined, DirecTV and DISH have collectively lost 63% of their satellite customers since 2016.
DirecTV says it will continue to invest in next-generation streaming platforms while integrating content from live TV alongside direct-to-consumer services.
The termination of the DISH acquisition does not affect TPG’s acquisition of the remaining 70% stake in DIRECTV from AT&T, which is expected to close in the second half of 2025.
