EchoStar Divests Pay-TV Business to DIRECTV for Debt Relief

Echostar ( (SATS) ) just unveiled an announcement.

EchoStar Corporation and DIRECTV Holdings LLC have entered into an agreement for DIRECTV to acquire EchoStar’s DISH DBS Corporation, which includes its Pay-TV business, for a total purchase price of $1.00 and the assumption of DBS’s outstanding net debt. The deal will position DIRECTV to better compete with large streaming platforms by potentially offering smaller content packages at lower prices, while also allowing EchoStar to improve its financial situation and focus on its 5G network deployment. The transaction is subject to customary closing conditions, including regulatory approvals.

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