The proposed merger between Dish Network and DirecTV is becoming more complex due to a financing arrangement led by TPG Angelo Gordon.
As part of the agreement, AT&T Inc. will transfer its majority stake in DirecTV to TPG Inc.
To address $2 billion in unsecured Dish notes that are due soon, TPG's credit arm will provide a loan, regardless of whether the merger goes through.
This financial maneuver highlights the intricate dynamics of the ongoing merger negotiations.