Time appears to be running out for a combination of DISH and DIRECTV. The two companies first announced official plans to merge at the end of September, but plans have been held up by a group of DISH bondholders who refuse to take a “haircut” on their investment in a debt swap required to make the deal work. Now, DIRECTV has publicly informed DISH that if the situation is not resolved in the next week, it will bail on the merger transaction and leave DISH to fend for itself.
Key Details: DISH has until Nov. 22 to find some way to appease its bondholders or lose the DIRECTV deal. The investors have already rejected one attempt to sweeten the debt swap offer. DISH is trying to build a 5G broadband business, but it may be too late if DIRECTV pulls its merger offer. 5-Day Free Trial
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