DIRECTV announced that it has notified EchoStar (SATS) of its election to terminate the equity purchase agreement (EPA) pursuant to which it had agreed to acquire EchoStar’s video distribution business, Dish. The termination of the agreement follows Dish 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. DIRECTV said it will continue to invest in streaming platforms “and revolutionize the industry through new packaging options while integrating content from live TV alongside direct-to-consumer services.” The termination of the Dish acquisition does not affect TPG’s acquisition of the remaining 70% stake in DIRECTV from AT&T (T), which is expected to close in the second half of 2025, it added.
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