DirecTV has abandoned its proposed merger with Dish Network after EchoStar bondholders with $10.7 billion of debt in Dish and its DBS subsidiary rejected an exchange provision, dooming a deal that would have created the largest pay-TV service in the U.S. EchoStar announced it respects the decision and will continue to operate its own pay-TV brands. While DirecTV still believes the merger “would have benefitted all stakeholders,” it deemed the exchange necessary to protect its balance sheet operational flexibility, DirecTV CEO Bill Morrow explained. Continue reading DirecTV Terminates Deal to Merge with Rival EchoStar’s Dish

Nikon, the Japanese company best known for still cameras, is vaulting into the mainstream of professional moving images with its acquisition of California-based RED Digital Cinema. RED cameras popular among filmmakers and other creators include the RED ONE 4K and V-RAPTOR [X] series. The company also invented the REDCODE RAW compression technology. On closing, RED will become a wholly-owned subsidiary of Nikon, which plans to merge “Nikon’s expertise in product development” with “RED’s knowledge in cinema cameras, including unique image compression technology and color science.” Continue reading Nikon to Enter Cinema Camera Business with RED Acquisition