DirecTV, which will soon be wholly owned by private equity firm TPG, would have assumed roughly $10 billion worth of Dish debt and paid a nominal $1 to acquire Dish DBS, which includes both Dish and Sling TV. But the initial deal was quickly contested by a group of bondholders. DirecTV made a revised offer that valued Dish bonds at a little more than 70 cents on the dollar.
Bloomberg was first to report on DirecTV's plans.