DirecTV is buying Dish and Sling, a deal it has sought to complete for years, as the company seeks to better compete against streaming services that have become dominant, according to an Associated Press report.
DirecTV said Monday that it will acquire Dish TV and Sling TV from its owner EchoStar in a debt exchange transaction that includes a payment of $1, plus the assumption of debt.
The prospect of a DirecTV-Dish combo has long been rumored, with headlines about reported talks popping up over the years. And the two almost merged more than two decades ago — but the Federal Communications Commission blocked their owners’ then-$18.5 billion deal, citing antitrust concerns.
The pay-for-TV market has shifted significantly since. As more and more consumers tune into online streaming giants, demand for more traditional satellite continues to shrink. And, although high-profile acquisitions have proven to be particularly tough under the Biden-Harris administration, that may make regulators more inclined to approve DirecTV and Dish’s pairing this time around.
DirecTV said Monday that the transaction will help it bring smaller content packages to consumer at lower prices. It’s hoping this will appeal to those who have left satellite video services for streaming. The company said that combined, DirecTV and Dish have collectively lost 63% of their satellite customers since 2016.
Click here to read the full Associated Press report.
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