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FILE - In this Feb. 23, 2011, file photo, Dish Network satellite dishes are shown at an apartment complex in Palo Alto, Calif. (AP Photo/Paul Sakuma, File)

Satellite service DirecTV buys rival Dish as it fights the onslaught of streaming services

DirecTV is buying Dish and Sling as the company, a deal it has sought to complete for years as seeks to better compete against streaming services that have become dominant

By MICHELLE CHAPMAN and WYATTE GRANTHAM-PHILIPS
Published - Sep 30, 2024, 12:37 PM ET
Last Updated - Dec 16, 2024, 06:47 PM EST

DirecTV is buying Dish and Sling, a deal it has sought to complete for years, as the company seeks to better compete against streaming services that have become dominant.

DirecTV said Monday that it will acquire Dish TV and Sling TV from its owner EchoStar in a debt exchange transaction that includes a payment of $1, plus the assumption of approximately $9.8 billion in debt.

The prospect of a DirecTV-Dish combo has long been rumored, with headlines about reported talks popping up over the years. And the two almost merged more than two decades ago — but the Federal Communications Commission blocked their owners’ then-$18.5 billion deal, citing antitrust concerns.

The pay-for-TV market has shifted significantly since. As more and more consumers tune into online streaming giants, demand for more traditional satellite continues to shrink. And, although high-profile acquisitions have proven to be particularly tough under the Biden-Harris administration, that may make regulators more inclined to approve DirecTV and Dish’s pairing this time around.

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