BRIEF-DIRECTV to Acquire EchoStar's Video Distribution Businesses, Including DISH TV & Sling TV

Reuters
2024-09-30

Sept 30 (Reuters) - DIRECTV:

* DIRECTV TO BUY ECHOSTAR’S VIDEO DISTRIBUTION BUSINESSES INCLUDING DISH TV AND SLING TV

* DIRECTV: ESTIMATES COMBINATION HAS POTENTIAL TO GENERATE COST SYNERGIES OF AT LEAST $1 BILLION PER ANNUM

* DIRECTV: AT CLOSE, ECHOSTAR WILL HAVE REDUCED TOTAL CONSOL DEBT BY $11.7 BILLION AND CUT ITS CONSOL REFINANCING NEEDS THROUGH 2026 BY $6.7 BILLION

* DIRECTV: DISH AND DIRECTV HAVE COMMENCED EXCHANGE OFFER FOR 5 DIFFERENT SERIES OF DISH NOTES WITH TOTAL FACE VALUE OF ABOUT $9.75 BILLION

* DIRECTV: DEAL IN EXCHANGE FOR NOMINAL CONSIDERATION OF $1 PLUS ASSUMPTION OF DISH NET DEBT

* DIRECTV: CO, TPG ANGELO GORDON, SOME CO-INVESTORS TO PROVIDE $2.5 BILLION OF FINANCING TO ECHOSTAR TO FULLY REFINANCE DISH’S NOV 2024 DEBT MATURITY

((Reuters.Briefs@thomsonreuters.com;;))

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