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DirecTV Agrees To Buy Dish For $1

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DirecTV announced Monday that it will acquire rival Dish Network, capping decades of on-and-off talks about the satellite firms joining.

The firms have struggled to keep subscribers in the streaming era. As platforms such as Netflix, Hulu, and Amazon’s Prime Video gained traction, drawing millions of subscribers away from pay TV with lower prices and on-demand content, DirecTV and Dish have struggled to justify rising subscription costs, exacerbating already dramatic cord-cutting.

DirecTV Agrees To Buy Dish For $1

According to the businesses, the “combination of DirecTV and Dish will benefit US video consumers by creating a more robust competitive force in a video industry dominated by streaming services owned by large tech companies and programmers.”

Under the terms of the agreement, DirecTV will pay only $1 to Dish’s owner, EchoStar, in exchange for taking on Dish’s billions of dollars in debt.

Meanwhile, TPG, a private equity group, will acquire AT&T’s remaining 70% ownership in DirecTV. A DirecTV representative told CNN that the move comes nine years after AT&T bought the company in 2015, only to sell a 30% stake to TPG in 2021.

The transaction is still contingent on Dish bondholders agreeing to net debt of less than $1.56 billion, which a DirecTV representative stated the firm will seek to secure in the coming weeks. Bondholders can accept a lesser percentage, take a slightly greater percentage today, or wait it out, risking Dish’s bankruptcy. Dish announced an exchange offering in a news release on Monday.

Dish currently has a $2 billion debt maturing on November 23. To secure money through a shared revenue stream, TPG and DirecTV will offer Dish with a $10 billion loan, which will mature on November 24.

A DirecTV representative told CNN that the agreement gives DirecTV and Dish greater scale. From an investment standpoint, the united entity provides a more consistent revenue stream to invest back into products and services, which is beneficial for programmers such as Disney. It will also enable the new organisation, as a video company, to better collaborate with programmers to create slimmer packages and bundles.

The newly merged DirecTV-Dish corporation will continue to support the Dish brand for the foreseeable future, according to a DirecTV representative. DirecTV has no intentions to replace the existing Dish or Sling TV branding, so current Dish customers do not need to worry about being compelled to switch to DirecTV.

If they unite, the new service will have approximately 20 million members, with DirecTV accounting for more than 11 million of those. However, this figure pales in comparison to DirecTV’s highest TV subscriber count of 20.3 million in 2015, when AT&T acquired a majority share in the company.

Hughes Electronics founded DirecTV in 1994. AT&T acquired the company in 2015 and sold a portion of it to private equity firm TPG in 2021.

Dish Network is a subsidiary of EchoStar Corporation (SATS), which also owns Sling TV and the wireless spectrum utilized for cell phone services. EchoStar shares fell more than 10% in morning trading.

DirecTV Agrees To Buy Dish For $1

A long time coming.
Reports and rumors about a merger have circulated for years. Bloomberg reported in 2014 that former Dish chairman Charlie Ergen contacted former DirecTV CEO Mike White.

However, the US government had previously banned the companies’ proposed $19 billion merger in 2002 on competitive concerns. Echostar had to pay a $600 million breakup fee to Hughes, which was then owned by General Motors.

The partnership announced Monday allows DirecTV to curb rising costs while also allowing EchoStar to handle its debt problem. The agreement also enhances the duo’s position in the business, allowing them to compete more effectively with pay TV rivals and streaming services.

Antitrust regulators’ concerns about satellite TV mergers stem from a time when such businesses were the only carriers available to viewers in suburban and rural areas, which were less densely populated and were not served by cable networks due to expensive infrastructure costs.

However, since broadband firms have increasingly given distant viewers with a variety of solutions, the competitive consequences of such mergers have diminished.

SOURCE | AP

Kiara Grace is a staff writer at VORNews, a reputable online publication. Her writing focuses on technology trends, particularly in the realm of consumer electronics and software. With a keen eye for detail and a knack for breaking down complex topics. Kiara delivers insightful analyses that resonate with tech enthusiasts and casual readers alike. Her articles strike a balance between in-depth coverage and accessibility, making them a go-to resource for anyone seeking to stay informed about the latest innovations shaping our digital world.

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Sonic the Hedgehog Dominates Christmas Wish Lists

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Sonic the Hedgehog Merchandise are hot Christmas Items

Sonic the Hedgehog is dominating Christmas wish lists this year. The lovable blue hedgehog is back in the spotlight, from sonic the hedgehog toys and games to sonic the hedgehog coloring pages and movie hype.

Sonic-themed holiday merchandise is on fire, from quirky sweaters to action figures flying off shelves. Sonic the Hedgehog Christmas outfits for kids are selling out fast, making them a go-to gift option for festive fun.

Retailers have been quick to recognize Sonic’s holiday appeal. Special promotions and exclusive items, like the Sonic holiday t-shirts, are everywhere.

Everyone’s stocking up on Sonic merchandise, from big-box stores to boutique retailers.

Online shopping platforms are seeing a surge in searches for Sonic items. Whether it’s Sonic Christmas-themed tops or Sonic the Hedgehog coloring pages, Sonic the Hedgehog toys or Sonic and the Hedgehog 3, the demand is skyrocketing.

Retailers who tap into this trend are sure to see strong holiday sales.

Sonic has been around since the early 90s, but his popularity never wanes. With the release of Sonic 3, fans are more excited than ever.

Sonic the Hedgehog 4

Meanwhile, Paramount Pictures is preparing “Sonic the Hedgehog 4,” with the newest addition in the family-friendly genre set for a spring 2027 release.

The announcement comes as “Sonic 3” opens in theatres on Friday, estimated to gross $55 million to $60 million from 3,800 North American locations.

The sequel is shaping up to be a good holiday season blockbuster for Paramount, which explains the desire in future “Sonic” adventures. On the international front, the film will be released on Christmas Day in 52 markets.

On Rotten Tomatoes, critics gave “Sonic 3” an outstanding 87% fresh score.

The first two films grossed a total of $725.2 million at the global box office and generated over $180 million in global consumer expenditure through home entertainment rentals and digital purchases.

They also inspired a spinoff Paramount+ series, “Knuckles,” which premiered earlier this year.

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Amazon Strike Called By Teamsters Union 10,000 Walkout

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Teamsters members were demonstrating at "hundreds" of other Amazon locations.

An Amazon strike has hit facilities in the United States in an effort by the Teamsters union to pressure the corporation for a labour agreement during a peak shopping season.

The Teamsters union told the Associated Press that Amazon delivery drivers at seven facilities in the United States walked off the job on Thursday after the firm failed to discuss a labour contract.

According to the union, Amazon employees in Teamsters union jackets were protesting at “hundreds” of additional Amazon facilities, which the union billed as the “largest strike” in US history involving the company.

The corporation, which employs over 800,000 people in its US delivery network, stated that its services will be unaffected.

It was unclear how many people, including members of Germany’s United Services Union, participated in Thursday’s demonstration. The Teamsters union reported that thousands of Amazon employees were implicated in the United States.

Amazon Strike at 10 Locations

Overall, the group claims to represent “nearly 10,000” Amazon strikers, having signed up thousands of people at roughly ten locations across the country, many of whom have joined in recent months.

The organization has claimed recognition from Amazon going on strike, claiming the firm illegally neglected its obligation to bargain collectively over salary and working conditions.

The Teamsters is a long-standing US union with nearly one million members. It is well-known for securing lucrative contracts for its members at companies like delivery behemoth UPS.

Most of the Teamsters’ Amazon campaigns have concerned drivers working for third-party delivery companies that partner with the tech behemoth.

Amazon denies that it is liable as an employer in those circumstances, which is a point of legal contention. In at least one case, labour officials have taken a preliminary stance in favour of the union.

Stalled Contract Negotiations

Amazon employees at a major warehouse on Staten Island in New York have also chosen to join the Teamsters. Their warehouse is the only Amazon facility in the United States where labour officials have formally recognized a union win.

However, the Amazon strike is because contract negotiations have not progressed since the 2022 vote. It was not one of the areas scheduled to go on strike on Thursday.

Amazon, one of the largest employers in the United States, has long received criticism for its working conditions and has been the target of activists seeking to gain traction among its employees.

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Amazon Encounters Numerous Strikes As Unions Aim At The Holiday Shopping Surge.

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(VOR News) – Thousands of Amazon employees at various sites across the country were scheduled to go on strike on Thursday in an effort by the Teamsters union to pressure the retail behemoth to acknowledge its unionised workers in the United States.

The walkout is expected to concentrate on seven Amazon locations across the country during the holiday purchasing surge and may be the most significant union action against Amazon in the nation’s history.

The business announced on Thursday morning that there had been no effect on operations. It also stated that it is “continuing to concentrate on fulfilling customers’ holiday orders.”

The International Brotherhood of Teamsters maintains that it represents more than 10,000 Amazon employees and contractors in aviation centres, warehouses, and delivery centres.

Amazon has refused to acknowledge the union for many years.

The retail giant, which employs approximately 1.5 million individuals, excludes contractors and part-timers. A strike has been initiated by delivery couriers and warehouse employees at seven distinct locations in order to exert pressure on the company to negotiate a collective bargaining agreement that would encompass modifications to compensation, amenities, and working conditions.

Picketing was intended for New York, Atlanta, Los Angeles, San Francisco, and Skokie, Illinois.

Also, the Teamsters assert that they are establishing picket lines at “hundreds” of additional warehouses and delivery centres by encouraging non-unionized workers to picket under U.S. labour law, which protects workers’ ability to take collective action to further their interests.

“Amazon workers are exercising their power,” Randy Korgan stated to NPR.

“They now realise there is a pathway to take on a corporate giant like this – and that they hold the power.” Amazon responds by accusing the Teamsters of fabricating information regarding the strikes, asserting that the participants are “entirely” outsiders rather than employees or subcontractors of the corporation.

Amazon spokesperson Kelly Nantel stated that “the reality is that they were unable to secure sufficient support from our employees and partners and have invited external parties to harass and intimidate our team.” For more than a year, the Teamsters have been intentionally misleading the public by claiming to represent “thousands of employees and drivers.” They do not.

The Teamsters did not provide a specific duration for the strike; however, they informed NPR that it would extend beyond one day. Workers would receive $1,000 per week in strike money, as per the union.

Teamsters President Sean O’Brien issued a statement in which he stated, “If your package is delayed during the holidays, you can attribute it to Amazon’s insatiable greed.” We established a firm deadline for Amazon to attend the meeting and treat our members equitably. They disregarded it.

The Teamsters granted until December 15 to convene with its unionised employees and develop a collective bargaining agreement.

Amazon has opposed all unionisation efforts in court, asserting that unions were not advantageous to its employees and emphasising the compensation and benefits that the organisation currently provides.

Amazon has been accused of discriminatory labour practices on numerous occasions, including the termination of labour organisers. Furthermore, it has disputed its official status as a contract employer.

Teamsters organize Amazon delivery couriers and other employees.

In June, Amazon established its first unionised warehouse in Staten Island, New York, two years after making history by voting to join the fledgling Amazon Labour Union, which is also affiliated with the Teamsters.

The union is one of the most influential in the United States and Canada, with 1.3 million members. On Thursday, the German United Services Union declared that Amazon employees in Germany would participate in a strike in conjunction with their American counterparts.

In the past, Amazon has experienced demonstrations in Germany and Spain that were related to the holiday season in order to advocate for improved wages and working conditions.

“The holiday season has arrived.” Delivery is anticipated. Patricia Campos-Medina, the executive director of Cornell University’s Worker Institute, asserts that “this is the moment in which workers have control over the supply chain.”

The Teamsters have reported that Amazon’s profits have increased both during and after the pandemic. The corporation is currently valued at over $2.3 trillion, with net income of $15 billion in the most recent quarter alone. It is the second-largest private employer in the United States, following Walmart.

SOURCE: NPR

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