DirecTV is set to end its planned acquisition of Dish Network Corp. in the next 10 days unless bondholders agree to a debt exchange.
A spokesperson for DirecTV said that a successful debt exchange was necessary for acquiring Dish's video business.
The urgency arises from the recent outcome of the EchoStar exchange, which has left DirecTV with no choice but to proceed with the termination if an agreement is not reached by midnight on November 22.
This development represents a significant milestone in the ongoing negotiations between the companies and their stakeholders.