FX.co ★ DIRECTV Terminates DISH Acquisition

DIRECTV (DTV) announced it has exercised its right to terminate the Equity Purchase Agreement, under which it had planned to acquire EchoStar's video distribution business, DISH DBS. This decision was made following the inability of DISH DBS noteholders to agree to the proposed terms of the Exchange Debt Offer issued by EchoStar, a precondition for DIRECTV's obligations to proceed with the acquisition. The company emphasized that this termination does not impact TPG's ongoing acquisition of the remaining 70% stake in DIRECTV from AT&T, a transaction that is anticipated to conclude in the latter half of 2025.