Bloomberg
DirecTV, Dish Are Close to Clinching Merger Agreement
DirecTV and
Dish are in advanced talks to merge in a deal that would create the largest US pay-TV provider, with almost 20 million subscribers, people familiar with the matter said.
An agreement could be announced as soon as the coming days, according to the people, who asked not to be identified discussing confidential information. DirecTV is in talks to control the combined entity, which will be closely held, the people said.
----
EchoStar and TPG are expected to remain investors, the people said.
The companies are still working through details of how the combination might be structured, according to the people. While talks are advanced, they could still be delayed or falter, the people said. Bloomberg News
reported talks between the parties earlier this month.
---
In August 2021, to get the TV business off its books, AT&T moved DirecTV into a joint venture with private equity investor TPG in a deal that valued the company at about $16 billion. AT&T held 70% while TPG received 30%. Due to subscriber losses, AT&T took a $15.5 billion impairment charge in 2020 to account for the lower value of the operation.