The FCC never had a chance to say No Way. The Justice department beat them to it.
Had Echostar (the owner of Dish) bought Hughes (the owner of DirecTV, Vivendi/Universal would have had a big stake in Dish. The name "DirecTV" would have lived on and the name Dish Network" would have died.
There were about 10 mergers and "buy-ins" that didn't happen when the justsice department said that they would fight the merger if the FCC approved it. Charlie Ergen CEO of Echostar, pulled the plug when it was apparant that his "the competition is cable, FiOS, and other MSO delivery and not other satellites companies" wasn't working. (even though it is the truth! How some of these other mergers can happen but not that one still makes no sense to me).
See ya
Tony