From CNBC: 2024-09-30 13:57:28

EchoStar CEO Hamid Akhavan announced the sale of Dish TV and Sling to DirecTV, sending EchoStar shares down by 10%. DirecTV will pay $1 for Dish and assume $9.75 billion in debt. The merger is expected to close in Q4 2025, creating a company with close to 20 million customers. AT&T also sold its 70% stake in DirecTV to TPG for $7.9 billion after originally buying DirecTV in 2014 for $48.5 billion. Dish and DirecTV have long been rumored to merge, facing financial challenges. EchoStar CEO Akhavan emphasized the focus on core services over expansion.



Read more at CNBC: EchoStar to sell Dish to DirecTV, combining major pay-TV providers