🧵 1. DirecTV seals its long-awaited deal to merge with DishDirecTV by acquiring EchoStar's satellite TV arm. The move creates a giant with 20 million subscribers. #fintech
🧵 1. DirecTV seals its long-awaited deal to merge with DishDirecTV by acquiring EchoStar's satellite TV arm. The move creates a giant with 20 million subscribers. #fintech
🧵 2. Competition from streaming platforms like Netflix and Amazon prompts DirecTV to revamp its services. CEO sees potential in tailored programming bundles and enhanced viewer experience.
🧵 3. DirecTV's strategic acquisition aims to simplify content discovery for subscribers. The shift towards all-encompassing subscription management is a key focus for the new entity.
🧵 4. Transaction details: DirecTV buys Dish DBS for $1 and takes on $9.75 billion in debt. Discounted rate offer for debt holders is part of the deal structure.
🧵 5. EchoStar to receive $2.5 billion for debt payment in merger with DirecTV. The move also alleviates AT&T from its 70% stake in DirecTV, now sold to TPG for $7.6 billion.
🧵 Read more at: https://www.cnbc.com/2024/09/30/att-sells-70percent-stake-in-directv-to-tpg-for-7point6-billion.html