Satellite TV giant DirecTV and Charlie Ergen’s EchoStar said Monday that they cut a deal under which DirecTV will acquire EchoStar’s video distribution business Dish DBS, including Dish TV and Sling TV, through a debt exchange transaction. DirecTV will pay EchoStar $1 plus the assumption of debt.
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The landmark deal has been decades in the making, effectively seeing satellite TV giants DirecTV and Dish merge. If approved by regulators, it would create the largest pay-TV provider in the U.S.
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