DirecTV to Acquire Dish in Merger of Satellite TV Rivals
variety.comTodd Spangler NY Digital Editor DirecTV and Dish Network, longtime satellite TV adversaries, are set to merge. DirecTV announced a deal with Dish parent company EchoStar to acquire Dish in a deal valued at nearly $10 billion.
Under the terms of the purchase agreement, DirecTV will acquire EchoStar’s video distribution business, including Dish TV and Sling TV, in exchange for a nominal consideration of $1 — plus the assumption of the Dish unit’s net debt with a total face value of approximately $9.75 billion.
In addition, AT&T said it will sell its 70% stake in DirecTV to TPG, which owns 30% of the company. The deal requires U.S.
regulatory approvals, including antitrust clearance. Analysts have said they expect a DirecTV-Dish combination to win approval by regulators, given the dramatic decline in the traditional pay-TV biz as consumers have cut the cord and flocked to streaming services.
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