Solutions For RealSolutions For Real
  • Home
  • News
  • Personal Finance
    • Savings
    • Banking
    • Mortgage
    • Retirement
    • Taxes
    • Wealth
  • Make Money
  • Budgeting
  • Burrow
  • Investing
  • Credit Cards
  • Loans

Subscribe to Updates

Get the latest finance news and updates directly to your inbox.

Top News

How to Build an Attractive Business for Potential Buyers

May 30, 2025

College Professors Turn Back to Blue Books to Combat ChatGPT

May 30, 2025

Salesforce Is Cutting Back on Hiring Engineers Thanks to AI

May 30, 2025
Facebook Twitter Instagram
Trending
  • How to Build an Attractive Business for Potential Buyers
  • College Professors Turn Back to Blue Books to Combat ChatGPT
  • Salesforce Is Cutting Back on Hiring Engineers Thanks to AI
  • Best and Worst States for Retirement? Here’s the Ranking
  • 8 Secret Towns Where You Can Live Well (For Less)
  • 6 Grocery Chains Americans Trust to Beat Rising Prices
  • Clock Out, Cash in: 4 Ways to Get Paid While You Sleep
  • Why Business Owners Love These $80 Chromebooks
Friday, May 30
Facebook Twitter Instagram
Solutions For RealSolutions For Real
Subscribe For Alerts
  • Home
  • News
  • Personal Finance
    • Savings
    • Banking
    • Mortgage
    • Retirement
    • Taxes
    • Wealth
  • Make Money
  • Budgeting
  • Burrow
  • Investing
  • Credit Cards
  • Loans
Solutions For RealSolutions For Real
Home » EchoStar nears deal to sell Dish to DirecTV with $2 billion debt payment looming, sources say
News

EchoStar nears deal to sell Dish to DirecTV with $2 billion debt payment looming, sources say

News RoomBy News RoomSeptember 28, 20240 Views0
Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Email Tumblr Telegram

Charlie Ergen is getting close to selling the pay-TV business he founded more than 40 years ago.

EchoStar is in advanced talks to sell satellite TV provider Dish Network to rival DirecTV, the closely held pay TV operator owned by private-equity firm TPG and AT&T, according to people familiar with the matter. While the sides hope to complete a deal by Monday, no deal is assured, and the talks may still fall apart, said the people, who asked not to be named because the discussions are private.

The combination of Dish and DirecTV has been rumored for years and nearly happened in 2002 until it collapsed under regulatory pressure. This time, the deal is being driven by EchoStar’s desire to pay off $1.98 billion of debt that matures in November, said two of the people familiar with the process. EchoStar had just $521 million in cash and cash equivalents and marketable investment securities as of June 30 and forecast negative cash flows for the remainder of 2024, according to public filings.

The prospect of a future EchoStar bankruptcy and deal approval from creditors make the completion of a deal complicated. Dish attempted to refinance some of its debt earlier this week with bondholders, but the negotiations failed, according to a Sept. 23 filing.

The company said in public filings it remains in discussions with other debtholders.

A potential DirecTV-Dish transaction is being structured as all cash, with DirecTV paying EchoStar for the satellite TV business, its digital business Sling and associated liabilities, said people familiar with the matter. All in, the transaction may be worth more than $9 billion, according to one of the people.

A spokesperson for DirecTV declined to comment. A spokesperson for Dish couldn’t immediately be reached for comment.

“The bottom line is that we now see bankruptcy in the next four to six months as the most likely outcome [for EchoStar],” MoffettNathanson’s Craig Moffett said in a note to clients in August. “They will need to raise new capital.”

EchoStar has a total enterprise value of about $31 billion and a market capitalization of about $7.6 billion. There is no wireless spectrum involved in the proposed deal, which Dish Network has spent the past decade accumulating in its quest to transition into a wireless company, the people said.

Satellite TV, once some of the biggest distributors of the TV bundle, has been declining for years — often at a faster rate than cable competitors — as consumers switch to subscription streaming services such as Netflix, Disney+ and Amazon Prime Video. Dish ended its last quarter with 6.1 million satellite subscribers and 2 million customers for Sling TV, Dish’s over-the-internet package of linear networks.

DirecTV has also felt the pain, losing millions of subscribers since AT&T bought the company in 2015 for $67 billion with debt. AT&T spun it out in 2021 and sold a portion of the company to TPG. At that time, DirecTV had approximately 15.4 million subscribers. It has about 11 million today, CNBC previously reported.

The company has recently been focused on building out its streaming business, centering its latest ad campaign around dispelling the belief that DirecTV is only available through a satellite dish. MoffettNathanson estimates DirecTV added more than 20,000 streaming customers earlier this year. The bulk of its customers still use satellite dishes.

Most recently, DirecTV was in a distribution fight with Disney, which saw networks including ESPN go dark for nearly two weeks for the satellite TV company’s customers. The two companies reached a deal that gives DirecTV the ability to offer skinnier, genre-specific bundles.

— CNBC’s Lillian Rizzo contributed to this report.

Read the full article here

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Articles

Lucid shares tumble following public offering of nearly 262.5 million shares

News October 17, 2024

Harris distances herself from Biden, bashes Trump in tense Fox News interview

News October 17, 2024

Alibaba’s international arm says its new AI translation tool beats Google and ChatGPT

News October 16, 2024

I bought a $54,000 abandoned house in Japan and turned it into a luxury Airbnb—take a look inside

News October 16, 2024

Trump’s crypto coin goes on sale with Election Day just three weeks out

News October 15, 2024

Cramer’s Lightning Round: Uranium Energy is ‘the real deal’

News October 15, 2024
Add A Comment

Leave A Reply Cancel Reply

Demo
Top News

College Professors Turn Back to Blue Books to Combat ChatGPT

May 30, 20250 Views

Salesforce Is Cutting Back on Hiring Engineers Thanks to AI

May 30, 20250 Views

Best and Worst States for Retirement? Here’s the Ranking

May 30, 20250 Views

8 Secret Towns Where You Can Live Well (For Less)

May 29, 20250 Views
Don't Miss

6 Grocery Chains Americans Trust to Beat Rising Prices

By News RoomMay 29, 2025

voronaman / Shutterstock.comWith food prices continuing to climb, shoppers feel the pinch on their grocery…

Clock Out, Cash in: 4 Ways to Get Paid While You Sleep

May 29, 2025

Why Business Owners Love These $80 Chromebooks

May 29, 2025

AI Is Taking Over Entry-Level Tech Jobs: Anthropic CEO

May 29, 2025
About Us
About Us

Your number 1 source for the latest finance, making money, saving money and budgeting. follow us now to get the news that matters to you.

We're accepting new partnerships right now.

Email Us: [email protected]

Our Picks

How to Build an Attractive Business for Potential Buyers

May 30, 2025

College Professors Turn Back to Blue Books to Combat ChatGPT

May 30, 2025

Salesforce Is Cutting Back on Hiring Engineers Thanks to AI

May 30, 2025
Most Popular

3 Ways To Get Paid To Advertise On Your Car

November 2, 20232 Views

AustralianSuper rejects Brookfield’s ‘best and final’ $10.5 billion bid for Origin Energy

November 2, 20231 Views

How to Build an Attractive Business for Potential Buyers

May 30, 20250 Views
Facebook Twitter Instagram Pinterest Dribbble
  • Privacy Policy
  • Terms of use
  • Press Release
  • Advertise
  • Contact
© 2025 Solutions For Real. All Rights Reserved.

Type above and press Enter to search. Press Esc to cancel.