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DirecTV on Thursday announced that it was nixing the agreement with EchoStar to buy Dish Network.
EchoStar stock plunged on the news that bondholders of Dish Network rejected a proposed debt deal seen as key to sealing a merger with DirecTV.
EchoStar stock plunged 13% Tuesday on the news that bondholders of subsidiary Dish Network rejected a proposed debt deal seen as key to sealing a merger with satellite rival DirecTV.
Long-time rival DirecTV on Monday said it will pay $1 and assume $9.7 billion in EchoStar debt to acquire Dish Network and its Sling streaming service.
EchoStar Corp (NASDAQ:SATS) shares are trading lower. The company on Monday announced that DirecTV will acquire its video distribution business.
Under the deal, DirecTV will pay Dish's owner, EchoStar, just $1 for Dish in exchange for assuming its billions of dollars in debt.