Please use a modern browser for the best experience on our website.
Seriously, things are going to look all messed up otherwise.
Also, you will not be able to log into your account unless you use another browser.
Here are some suggestions:
Chrome | Firefox | Opera | Edge
AT&T Sells DirecTV to Dish in Seismic Deal
AT&T is selling its 70% stake in DirecTV in a seismic deal for the satellite television world that will make the combined provider the biggest pay-TV provider in the U.S.
Under the terms of the transaction, DirecTV will acquire Dish from its owner EchoStar Corp. for a nominal consideration of $1 plus the assumption of about $9.75 billion of Dish debt, according to a statement on Monday that confirmed previous Bloomberg News reporting.
The deal is contingent upon Dish’s bondholders agreeing to take a haircut on the principal amount of the company’s debt of at least $1.568 billion, the statement shows.
DirecTV is owned by AT&T Inc. and joint-venture partner TPG Inc. In connection with Monday’s deal, TPG will acquire the 70% stake in DirecTV that it doesn’t already hold from AT&T in a $7.6 billion cash transaction. AT&T paid $67 million for DirecTV in 2015.
