Can someone familiar with corporate shenanigans explain to me the logic behind this? DirecTV buys Dish and Sling from EchoStar for $1 (I’d buy that for a dollar!) and in the process takes on nearly $10 billion in debt. Why? How can they profit from that?
DirecTV is buying Dish and Sling for $1 and the assumption of nearly $10 billion in debt, marking one of the biggest pay-TV mergers ever.
EchoStar Mobile and Connected Partner to Deliver Reliable Off-Grid Connectivity www.viv-media.com/infozx-34639...
"Colorado-based EchoStar cuts Dish Network and Sling loose so Boost Mobile can move forward" #denver
Long-time rival DirecTV on Monday said it will pay $1 and assume $9.7 billion in EchoStar debt to acquire Dish Network and its Sling streaming service.
DIRECTV and EchoStar (NASDAQ: SATS) have entered into a definitive agreement under which DIRECTV will acquire EchoStar's video distribution business DISH DBS, including DISH TV and Sling TV. #DigitalTV#MandA#Satellite#Streaming#USA
DirecTV agrees to buy Dish for $1. Under the deal, DirecTV will pay Dish’s owner, EchoStar, just $1 for Dish in exchange for assuming its billions of dollars in debt.
DirecTV announced Monday it’s buying rival Dish Network, ending multiple decades of on-and-off talks about the satellite services merging.
@Reuters: WATCH: After decades of on-and-off talks, DirecTV agreed to buy rival satellite TV company Dish from parent company EchoStar https://t.co/bgJCaLi7Mb
DirecTV said Monday that it will acquire Dish TV and Sling TV from its owner EchoStar in a debt exchange transaction that includes a payment of $1, plus the assumption of approximately $9.8 billion in debt.
DirecTV is buying Dish and Sling as the company, a deal it has sought to complete for years as seeks to better compete against streaming services that have become dominant