DirecTV terminates Dish deal over failed debt swap

(Reuters) -U.S. satellite TV provider DirecTV said on Thursday it had terminated its agreement to acquire Echostar's satellite television business, which includes rival Dish TV, over a failed debt-exchange offer. For the deal to go through, Dish bondholders had to agree to exchange their debt for new debt in the merged entity at a discounted rate, taking a "haircut" of about $1.57 billion on the debt. As part of the transaction, DirecTV was to pay $1 to buy the pay-TV business called Dish DBS, including Dish and Sling TV, with the assumption of about $9.75 billion of Dish's debt.