DirecTV has agreed to acquire Dish Network, creating a major player in the satellite TV industry. DirecTV will assume Dish's $2 billion debt, a crucial move for the financially troubled company, which only has $500 million in available cash. The transaction involves private equity firm TPG acquiring a majority stake in DirecTV from AT&T, followed by DirecTV purchasing Dish for $1. Dish’s parent company, EchoStar, will retain certain assets, including $30 billion in wireless spectrum. The combined entity will have around 19 million subscribers.
