A satellite model is placed on EchoStar Satellite Services logo in this picture illustration taken April 4, 2022. REUTERS/Dado Ruvic/Illustration/File Photo
(Reuters) - Satellite TV provider DirecTV said on Tuesday it will abandon its planned acquisition of EchoStar's satellite television business that includes Dish TV by Nov. 22 if bondholders don't agree to a debt exchange.
A group of Dish bondholders on Monday rejected the proposed debt-exchange offer from DirecTV that was contingent upon them accepting a "haircut" of $1.5 billion.
