Dish DBS is preparing to file for Chapter 11 bankruptcy to restructure $25 billion in debt, according to WSJ sources. The satellite TV unit of EchoStar has backing from major bondholders for a plan that includes selling spectrum licenses to AT&T and SpaceX.
The filing comes after EchoStar's failed merger attempt with DirecTV, which would have formed the world's largest pay-TV distributor. Dish DBS has been bleeding subscribers and facing creditor litigation.
The bankruptcy is designed to resolve legal disputes while offloading valuable spectrum assets to telecom and satellite players.
The filing comes after EchoStar's failed merger attempt with DirecTV, which would have formed the world's largest pay-TV distributor. Dish DBS has been bleeding subscribers and facing creditor litigation.
The bankruptcy is designed to resolve legal disputes while offloading valuable spectrum assets to telecom and satellite players.