It's either they get a $2.5 billion Nov. payment or it's bankruptcy and they try to get a better payout. I doubt they can find another buyer or sell the parts for more.
finance.yahoo.com
So the deal will collapse next month then and we will be back where we were with DISH and Sling TV back in Charlie's control and DISH going bankrupt. Should be a nice holiday period for everyone at Charlie's house.And more news-
Creditors to US satellite television firm Dish Network told DirecTV’s attorneys that the current merger proposal that calls for them to take an almost $1.6 billion loss is “unworkable,” according to a letter seen by Bloomberg.
DirecTV rejected a counteroffer from the group of bondholders, which holds about $8.9 billion of Dish notes, that proposed to adjust a debt exchange that the merger will be contingent on. Going forward, DirecTV can negotiate further, close the acquisition as is and “pay a premium to do so,” or face continued litigation, the group said.
The group said the two companies have “crafted a deal that allows DBS’s shareholder to further siphon billions of dollars of value away from DBS, while asking DBS’s creditors to voluntarily forfeit over $1.56 billion in value they are owed,” according to the letter. “It should be no surprise to anyone that such a deal is unworkable.”
Dish Lenders Call DirecTV’s Current Merger Proposal ‘Unworkable’
(Bloomberg) -- Creditors to US satellite television firm Dish Network told DirecTV’s attorneys that the current merger proposal that calls for them to take an almost $1.6 billion loss is “unworkable,” according to a letter seen by Bloomberg. Most Read from BloombergRobotaxis Are No Friend of...
Yes, other government entities also.
Why would you believe something like the above will happen.
They also said they wanted a better deal from Disney, for the benefit of their subscribers, yet just a week after the dispute started, DirecTV had one of the biggest increases, just 10 months after the last.
Or do you mean Dish’s losses were lessened? If they’re losing money, I doubt they’re making a profit.
Back when they stopped carrying the RSNs, were making plenty of profit.
About a year or two ago the at&t guy said TPG has total control of Directv decisions and at&t was very happy with the $$$$$ at&t was receiving.
Did they have total control? They had both AT&T and TPG board members. Wouldn't AT&T have some say in how it was run until they are separate from them?
I assumed since the boss at AT&T said TPG management makes the decisions for Directv, he was speaking truthfully.
I think right now it's just the larger creditors trying to force an agreement for them to get a larger share of the payments and not be stuck with an equal share of the $1.5 billion loss. They are trying to screw the smaller creditors. It would happen in a bankruptcy the same way with the creditors approving the plan where they get paid the most.
Or TPG uses this to get out of the stupid deal, would read like this-
And the Stockholders think this is better??
