DirecTV’s proposed acquisition of Dish assets likely off, CNBC reports

DirecTV’s proposed acquisition of Dish assets is more than likely dead after a group of bondholders rejected a revised offer, CNBC’s Rohan Goswami reports. The deal could possibly be salvaged if Dish Chairman Charlie Ergen comes to the negotiating table, but that currently appears unlikely. DirecTV had offered to acquire Dish’s pay TV business for a nominal $1 plus the assumption of roughly $10B in debt. “A successful exchange was a condition for acquiring the Dish video business,” a spokesperson said in an email. “Given the outcome of the EchoStar (SATS) exchange, DirecTV will have no choice but to terminate the acquisition of Dish by midnight on Nov. 22.” AT&T (T) previously announced an agreement to sell its 70% stake in DirecTV to TPG Capital (TPG) for cash distributions totaling $7.6B beginning with Q4.