07:57 AM EST, 11/13/2024 (MT Newswires) -- EchoStar's ( SATS ) Dish TV bondholders have been given a deadline to agree to a debt exchange for the sale of Dish TV to TPG (TPG)-owned DirecTV, multiple media outlets reported late Tuesday.

DirecTV said it will abandon its planned takeover of the video business if Dish bondholders don't agree to a debt exchange by Nov. 22, multiple media outlets reported, citing an emailed statement from DirecTV.

Earlier Monday, a group of Dish bondholders rejected the proposed debt-exchange offer from Direct TV, which was contingent upon their accepting a $1.5 billion 'haircut' - a reduction in outstanding interest payments or a portion of a bond payable that will not be repaid, the media outlets reported.

"A successful exchange was a condition for acquiring the Dish video business," a DirecTV spokesperson was quoted by Reuters as saying.

EchoStar ( SATS ), DirecTV, and Dish TV did not immediately respond to MTNewswires' requests for comment.