Dish /Direct Merger Hits A Roadblock

[Bruce]

More news-

TPG Financing Tied to Dish-DirecTV Deal Creates New Wrinkle

(Bloomberg) -- A financing led by TPG Angelo Gordon amid the proposed tie-up between satellite pay-TV providers Dish Network and DirecTV is creating a fresh wrinkle in an already complicated and contentious deal process. Most Read from BloombergThere Will Soon Be No Meatpackers Left in NYC’s...

ca.finance.yahoo.com

At issue is a loan that TPG’s credit arm, TPG Angelo Gordon, agreed to provide to pay off some $2 billion in unsecured Dish notes due later this month, whether the deal goes through or not.

TPG wants to use collateral tied to Dish subscribers as extra backing for this loan, but the assets are currently tied to other Dish secured debt issued by its DBS unit. US Bank Trust, the collateral agent and trustee of the debt, is now asking holders for guidance on the proposed move, which would give TPG some claim to the collateral of the existing secured bonds, according to a notice viewed by Bloomberg News. It set a deadline for feedback of Nov. 4, just 11 days ahead of the maturity of the unsecured notes.

 

[nelson61]

New date is Nov 12 and the clock is ticking.

https://ir.echostar.com/news-releases/news-release-details/echostar-corporation-announces-amendments-exchange-offers

 

[MikeD-C05]

New date is Nov 12 and the clock is ticking.

https://ir.echostar.com/news-releases/news-release-details/echostar-corporation-announces-amendments-exchange-offers

Ah, my Dad's 85th Birthday on that date. So after that date the disagreement will still be going on I bet with some of the stockholders. I imagine that a majority will still not want the new notes, so the deal falls through?

 

[CSM]

DIRECTV Updates Offer to DISH Bondholders Who Have Showed Reluctance to Allow Merger Deal to Go Through

The offer has been made to a group of DISH investors who were unimpressed by initial offers to exchange their bonds as part of the DIRECTV merger proposal.

thestreamable.com

 

[MikeD-C05]

So once again, if the bondholders do not agree to the deal by Nov 12th it will be stopped in it's tracks.

 

[harshness]

So once again, if the bondholders do not agree to the deal by Nov 12th it will be stopped in it's tracks.

That is the nature of deadlines. It is also the nature of deadlines that they may be extended.

 

[Bruce]

So once again, if the bondholders do not agree to the deal by Nov 12th it will be stopped in it's tracks.

They do not like the deal offered-

The proposed merger between Dish Network and DirecTV has hit another roadblock as creditors prepare to reject the satellite TV provider’s revised bond exchange offer. This latest development throws the future of the deal into further uncertainty, according to a Bloomberg report.

Unacceptable Offer:

A group of steering committee investors representing creditors holding $8.9 billion of Dish bonds deem the revised offer inadequate, according to people familiar with the matter. The offer, which would reduce minimum losses on the bonds by $70 million to $1.5 billion, is still considered unacceptable.

Counter Proposal and Stalemate:

Bondholders have countered with a proposal that would result in a $300 million loss, indicating some room for negotiation. However, with the acceptance deadline of November 12th rapidly approaching, the two sides remain at an impasse. As of October 28th, only a small minority of notes had been tendered in support of the exchange offer.

So basically, TPG needs to give up another $1.2 Billion to make them happy.

The DIRECTV & DISH Merger is Struggling to Get Approval From Creditors | Cord Cutters News

The proposed merger between Dish Network and DirecTV has hit another roadblock as creditors prepare to reject the satellite TV provider’s revised bond exchange offer. This latest development throws the future of the deal into further uncertainty, according to a Bloomberg report. Unacceptable...

cordcuttersnews.com

 

[MikeD-C05]

Sounds like if they want to get the deal done they will have to make good on the full value of the DISH stock and completely cover any losses for the stock holders. I don't blame them, they should. It's not their fault that Charlie got into the cell phone business and over extended himself. IF not then the deal will tank and the only other option will be bankruptcy. Then it will be losses for everyone including stock holders and Charlie himself.

 

[navychop]

They can’t cover stockholder losses. They can only cover some portion of the bondholders’ losses.

That’s the Marketplace.
“Some gonna win,
Some gonna lose.”

Either way it goes, I think Goodtime Charlie gonna have the Blues.

 

[charlesrshell]

They can’t cover stockholder losses. They can only cover some portion of the bondholders’ losses.

That’s the Marketplace.
“Some gonna win,
Some gonna lose.”

Either way it goes, I think Goodtime Charlie gonna have the Blues.

I wish he would fire his Charle Chat TV shows and explain everything to us!

 

[Bruce]

I wish he would fire his Charle Chat TV shows and explain everything to us!

Anything he says could be used in a court of law, for example he goes everything’s is fine, no plans for bankruptcy, then they file a month later, shares/Bond holders, creditors, etc could use that against him.

 

[Scott Greczkowski]

I wish he would fire his Charle Chat TV shows and explain everything to us!

He stopped doing Charlie Chats after he had me on as a guest.

He figured he couldn’t top that one.


Sent from my iPhone using Tapatalk

 

[charlesrshell]

He stopped doing Charlie Chats after he had me on as a guest.

He figured he couldn’t top that one.


Sent from my iPhone using Tapatalk

LOL. The way the apps streaming service prices keep going up and up, I bet if Charlie hung in there, Dish satellite business would become great again.

 

[navychop]

Be still, my beating heart.

 

[navychop]

He stopped doing Charlie Chats after he had me on as a guest.

He figured he couldn’t top that one.

Naw- you shut him down! Reminds me of shutting a place down. But I’ll start a new thread.

 

[MikeD-C05]

I wish he would fire his Charle Chat TV shows and explain everything to us!

Jim DeFranco could be his side kick again, laughing like Ed McMahon on Johnny Carson.

 

[MikeD-C05]

LOL. The way the apps streaming service prices keep going up and up, I bet if Charlie hung in there, Dish satellite business would become great again.

IF they did something like Spectrum cable is doing they might win. Offer a basic Flex pack and add ons and you will get access to the streaming apps like Max, Paramount+ , Disney+, ESPN , Discovery other apps for free. I read that they are doing something like that to keep subs who want the streaming apps and internet and all in one place. They could even use the DISH Plus unit and offer it all in one service. IF he cared about staying in the TV biz.

 

[Bruce]

IF they did something like Spectrum cable is doing they might win. Offer a basic Flex pack and add ons and you will get access to the streaming apps like Max, Paramount+ , Disney+, ESPN , Discovery other apps for free. I read that they are doing something like that to keep subs who want the streaming apps and internet and all in one place. They could even use the DISH Plus unit and offer it all in one service. IF he cared about staying in the TV biz.

The Spectrum deal is not what you believe it to be, first, the package that includes streaming services is well over $120, then Broadcast Channel fees, Franchise fees, Box (es) Fees, DVR fees, because you are Charter’s customer fee.

There is a basic, Philo type channel package at $40, but that does not include those streaming services.

Then the streaming services are the with Commercials only.

The best deal is the streaming services on their own, you get the majority of new content from Paid Live TV, streaming shows and movies.

I get Paramount+, Peacock, Hulu, Disney+, ESPN+, MAX (HBO), Showtime, Netflix, almost all Commercial Free and 4K, for under $80 a month.

 

[CSM]

I wonder how compelling a Hulu+Live TV Disney+.and Max combo would be?

 

[harshness]

I wonder how compelling a Hulu+Live TV Disney+.and Max combo would be?

I wonder how expensive (or, alternatively, unprofitable) it would be.

Actually, I don't wonder as I would only subscribe to any one of those for a month every year or so and it wouldn't be all at the same time. I've been away from Disney+ for at least two years and Max has been three years absent from my monthly subscriptions.