The U.S.’s two satellite tv for pc TV suppliers aren’t getting hitched anymore, no less than anytime quickly.

DirecTV on Thursday introduced that it was nixing the settlement with EchoStar to purchase Dish Community. The deal is being terminated efficient as of 11:59 p.m. ET on Nov. 22, DirecTV mentioned.

DirecTV’s official termination of the settlement follows Dish DBS bondholders’ failure to comply with the proposed change debt provide phrases issued by EchoStar, which was a situation of DirecTV’s obligations to accumulate Dish.

On Sept. 30, DirecTV and EchoStar introduced the deal beneath which DirecTV was to purchase onetime rival Dish and its Sling TV enterprise. That will have created the most important U.S. supplier within the declining pay-TV business with round 18 million prospects. Below the phrases, DirecTV was to imagine $9.75 billion of debt related to Dish and pay $1 in money. Successfully, EchoStar was gifting away its shrinking satellite tv for pc and streaming TV enterprise to be able to eliminate an enormous chunk of debt to give attention to constructing out a wi-fi companies play.

“Whereas we believed a mix of DirecTV and Dish would have benefitted all stakeholders, we now have terminated the transaction as a result of the proposed Alternate Phrases had been vital to guard DirecTV’s steadiness sheet and our operational flexibility,” DirecTV CEO Invoice Morrow mentioned in an announcement.

Morrow continued: “DirecTV will advance our mission to combination, curate, and distribute content material tailor-made to prospects’ pursuits by pursuing revolutionary merchandise and offering prospects with further alternative, flexibility, and management. We’re nicely positioned for the longer term with a robust steadiness sheet and help from our long-term associate TPG.”

The El Segundo, Calif.-based firm mentioned it should “proceed to spend money on next-generation streaming platforms and revolutionize the business by means of new packaging choices whereas integrating content material from stay TV alongside direct-to-consumer companies.”

The termination of the Dish acquisition doesn’t have an effect on TPG’s acquisition of the remaining 70% stake in DirecTV from AT&T, which is predicted to shut within the second half of 2025.