EchoStar is in advanced talks to sell its satellite TV provider Dish Network to rival DirecTV, according to people familiar with the matter. While a deal could be finalized by Monday, there's no guarantee as talks may still fall apart.
EchoStar is in advanced talks to sell satellite TV provider Dish Network to rival DirecTV, according to people familiar with the matter.
The deal is being driven by EchoStar's desire to pay off $1.98 billion of debt that matures in November, said two of the people familiar with the process. EchoStar had just $521 million in cash and cash equivalents and marketable investment securities as of June 30.is in advanced talks to sell satellite TV provider Dish Network to rival DirecTV, the closely held pay TV operator owned by private-equity firm TPG andaccording to people familiar with the matter.
A potential DirecTV-Dish transaction is being structured as all cash, with DirecTV paying EchoStar for the satellite TV business, its digital business Sling and associated liabilities, said people familiar with the matter"The bottom line is that we now see bankruptcy in the next four to six months as the most likely outcome ," MoffettNathanson's Craig Moffett said in a note to clients in August."They will need to raise new capital.
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