Sinclair, Scripps to pull Me TV from some stations on August 31 — here's how to keep watching
Around a dozen broadcast stations that carry Me TV will lose their affiliation next week.
thedesk.net
Merger could be terminated November 22nd
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thedesk.net
This is the link you were looking for. 😉
thedesk.net
DirecTV warns it will terminate Dish purchase on November 22 if creditor issue is unresolved
DirecTV says it will walk away from its merger agreement with Dish Network on November 22 if the company remains unable to reach a specific agreement with some of its creditors.
thedesk.net
It seems to me that something is better than nothing. If Dish were to go under what, exactly, in the way of assets would the creditors have to recoup their investment? If I remember correctly Echostar owns the satellites so maybe some commercial buildings (does Dish even own them or do they lease their facilities?) and a whole bunch of hardware that would become instantly useless once the service was shut down. There is nowhere near enough assets to offset the debt. That's the big problem investing in service companies, a dearth of saleable assets. Better to take what's available and let the business continue to operate methinks.This is the link you were looking for. 😉
DirecTV warns it will terminate Dish purchase on November 22 if creditor issue is unresolved
DirecTV says it will walk away from its merger agreement with Dish Network on November 22 if the company remains unable to reach a specific agreement with some of its creditors.
I hope the bondholders enjoy the fruits of bankruptcy.
So DISH and Sling TV go back to Echostar and with it the $9.75 billion in debt too? So how does Charlie deal with that? Bankruptcy? Or does he try to make a go of running the Satellite business or not? Does the amount he already converted to the new TPG company take away from the debt and leaving only the amount of stock that wasn't converted to Echostar? Does Charlie still get most of his debt still moved to the new TPG company ? Or is he back on the hook for the entire $9.75 billion in debt?
"A Successful exchange was a condition for acquiring the DISH video business." A Directv spokesperson told Reuters in an emailed statement. "Given the outcome of the Echostar exchange, Directv will have no choice but to terminate the acquisition of DISH by midnight on Nov. 22."
As part of the two-step transition, Directv was to pay $1 to buy the pay TV business called DISH DBS that inclues DISH and Sling TV, while agreeing to assume about $9.75 Billion of DISH's debt. DISH and Directv launched an exchange offer at a discounted rate for the debt to help extend the maturities.
The deal will provide a crucial lifeline to Echostar, which was co-founded by entrepreneur Charlie Ergen and currently saddled with more than $20 billion in debt.
"A Successful exchange was a condition for acquiring the DISH video business." A Directv spokesperson told Reuters in an emailed statement. "Given the outcome of the Echostar exchange, Directv will have no choice but to terminate the acquisition of DISH by midnight on Nov. 22."
As part of the two-step transition, Directv was to pay $1 to buy the pay TV business called DISH DBS that inclues DISH and Sling TV, while agreeing to assume about $9.75 Billion of DISH's debt. DISH and Directv launched an exchange offer at a discounted rate for the debt to help extend the maturities.
The deal will provide a crucial lifeline to Echostar, which was co-founded by entrepreneur Charlie Ergen and currently saddled with more than $20 billion in debt.
- Nov 29, 2003
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It is already dealt with.
Dish/Echostar already received $2 Billion from TPG for use against the immediate debt owed, which has already been distributed to those creditors/bondholders.
If the deal is dead, I have no idea/information on the terms to pay back that $2 Billion back to TPG after the deal collapses.
Echostar received another $5 Billion for bonds, that’s was linked to in one of these merger threads, with that, can use towards next year’s bonds when they come due and/or for the continued build out.
So the debt 💣 is handled for now.
The bad news, even if Echostar finishes the build out, no evidence that will mean increased business.
It is starting to look like having a Cell Phone Service is not the positive Dish thought it would be, since they have now lost 3 Million Subscribers, they had 10M when they acquired Boost.
For 5G internet, T-Mobile, AT&T and Verizon have a massive head start, if Echostar/Dish tries to undercut their services with pricing, they will do the same if Echostar starts gaining subscribers.
From what I can tell DISH / Echostar are safe for another year.
I said it a few weeks ago but will say it again. I see DISH ultimately owning DIRECTV and not the other way around. As they always say never count Charlie out.
I said it a few weeks ago but will say it again. I see DISH ultimately owning DIRECTV and not the other way around. As they always say never count Charlie out.
EchoStar Stock Plunges After Dish Network Debt Holders Spurn Bond Deal Seen As Key To DirecTV Merger
Sounds like the bondholders aren't particularly fond of Charlie at the moment.
They have a choice, get something... or get nothing.
What sounds like the better choice?
Hey I'm not a corporate financial expert but I'm sure they don't think they will get nothing if this deal falls apart.
Will DTV still become a separate company and I guess that will still have to be approved by the FCC? I guess getting a separate DTV bill won't happen until a year after that?
If they file for Bankruptcy, chances are good they may receive nothing.
- Nov 29, 2003
- 15,950
- 20,478
Shareholders are the ones at the most risk during a bankruptcy, usually the list is, first, secured creditors, then bond holders, then last, those who own stock in the company.
- Nov 29, 2003
- 15,950
- 20,478
EchoStar removes going concern disclosure, but DirecTV deal in jeopardy
Amid the closing of key financial transactions, EchoStar removed a disclosure raising doubts about its ability to continue as a going concern. However, DirecTV's proposed acquisition of Dish's video business has hit a bump.
Mine hasn't been since TPG bought 30% of DIRECTV and it became a separate company from AT&T.
They probably believe TPG will up their offer. After the bond holders rejected the first offer TPG said they would not change the offer and then they did. If TPG doesn't they will probably vote again to accept it before the 22nd rolls around. They know they still have 10 days left.
