07:31 AM EDT, 09/30/2024 (MT Newswires) -- DirecTV will acquire Dish from its owner EchoStar ( SATS ) for $1 plus the assumption of around $9.75 billion of Dish debt, Bloomberg reported Monday, citing a statement confirming a previous Bloomberg report.

The deal is contingent upon the bondholders of Dish agreeing to take a 'haircut' on the principal amount of Dish's debt of at least $1.57 billion, the statement reportedly shows.

DirectTV is owned by AT&T ( T ) and its joint-venture partner, TPG (TPG). As part of a deal announced earlier Monday, TPG will acquire the 70% of DirecTV that it didn't previously own from AT&T ( T ) in a $7.6 billion cash transaction.

AT&T ( T ), TPG and EchoStar ( SATS ) did not reply to requests for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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