“This agreement is in the best interests of EchoStar’s customers, shareholders, bondholders, employees, and partners,” Akhavan said.
Legal Teams and Regulatory Hurdles
At least five major law firms are advising on the deal. DirecTV is represented by Ropes & Gray LLP, Crowell & Moring LLP, and HWG LLP, while EchoStar is being advised by White & Case LLP and Steptoe & Johnson PLLC. The transaction, unanimously approved by the boards of both companies, is slated to close in the fourth quarter of 2025, pending regulatory approvals and other customary conditions.
TPG Capital to Buy AT&T’s Stake in DirecTV
In a separate but related transaction, private equity group TPG Capital has agreed to acquire the remaining 70% stake in DirecTV from AT&T for an initial payment of $2 billion. The total deal could see AT&T receive as much as $7.6 billion through 2029. TPG’s purchase is not contingent on DirecTV’s acquisition of Dish, but the deals represent a broader strategy for DirecTV’s future.
