DirecTV, Dish to Merge to Create Largest US Pay-TV Provider (2)

DirecTV and Dish have agreed to combine in a deal that will create the biggest pay-TV provider in the US with about 18 million subscribers.

Under the terms of the transaction, DirecTV will acquire Dish TV and Sling TV from EchoStar Corp. for a nominal consideration of $1 plus the assumption of about $9.75 billion of debt, according to a statement on Monday that confirmed previous Bloomberg News reporting.

The deal is contingent upon Dish’s bondholders agreeing to take a haircut on the principal amount of the company’s debt of at least $1.568 billion, the ...