(RTTNews) - DIRECTV (DTV) said it has notified EchoStar of its election to terminate the Equity Purchase Agreement pursuant to which it had agreed to acquire EchoStar's video distribution business, DISH DBS. The termination follows DISH DBS noteholders' failure to agree to the proposed Exchange Debt Offer Terms issued by EchoStar, which was a condition of DIRECTV's obligations to acquire DISH.
The company noted that the termination of the DISH acquisition does not affect TPG's acquisition of the remaining 70% stake in DIRECTV from AT&T, which is expected to close in the second half of 2025.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
