DirecTV to Acquire Dish in Merger of Satellite TV Rivals
DirecTV and Dish Network, longtime satellite TV adversaries, are set to merge. DirecTV announced a deal Monday with Dish parent company EchoStar to acquire Dish in a deal valued at nearly $10 billion — which would create the U.S.’s largest pay-tv provider.
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. The companies expect the deal to close in the fourth quarter of 2025.
In addition, AT&T said it will sell its 70% stake in DirecTV to Tpg, the private-equity firm that owns 30% of the operator, for $7.6 billion. That deal is expected to close in the second half of 2025; AT&T and Tpg said that transaction isn’t contingent on the completion of the DirecTV-Dish tie-up.
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. The companies expect the deal to close in the fourth quarter of 2025.
In addition, AT&T said it will sell its 70% stake in DirecTV to Tpg, the private-equity firm that owns 30% of the operator, for $7.6 billion. That deal is expected to close in the second half of 2025; AT&T and Tpg said that transaction isn’t contingent on the completion of the DirecTV-Dish tie-up.
- 9/30/2024
- by Todd Spangler
- Variety Film + TV
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