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