NEW YORK, Sept. 30 (Xinhua) -- DirecTV and Dish have agreed to combine in a deal that will create the biggest pay-TV provider in the United States, according to a statement released on Monday.
Under the terms of the transaction, DirecTV will acquire Dish from its owner EchoStar Corp. for a nominal consideration of 1 U.S. dollar plus the assumption of about 9.75 billion dollars of Dish debt, said the statement. The deal is contingent upon Dish's bondholders agreeing to take a haircut on the principal amount of the company's debt of at least 1.568 billion dollars.
