This Nov. 30, 2011 file photo shows television host Jon Stewart during a taping of "The Daily Show with Jon Stewart" in New York. (AP Photo/Brad Barket, File)
LOS ANGELES (AP) --
Comedy Central says that Jon Stewart will leave "The Daily Show" as host later this year.
His departure was announced by Comedy Central President Michele Ganeless after Stewart broke the news to the audience at Tuesday's taping in New York.
Stewart took over the show in 1999. He took a several months-long hiatus in 2013 to direct "Rosewater," a film about an Iranian-born journalist who was imprisoned for 118 days in Tehran and accused of being a spy.
The network lost another major host last year when Stephen Colbert left to take over David Letterman's late night show on CBS.
Dish Network satellite dishes are shown at an apartment complex in Palo Alto, Calif., Feb. 23, 2011. (AP Photo/Paul Sakuma, File)
DirecTV is calling off its planned acquisition of rival Dish after the offer was rejected by bond holders at that company.
The deal was reliant on Dish bond holders agreeing to trade in the debt they held for debt in the new company, a swap that would have cost them about $1.6 billion, collectively.
The retreat by DirecTV this week may end a years-long effort by the company to acquire both Dish and Sling after it announced the bid in September.
DirecTV was looking to acquire Dish TV and Sling TV from its owner EchoStar in a debt exchange transaction that included a payment of $1, plus the assumption of approximately $9.8 billion in debt. The deal was contingent on several factors, including regulatory approvals and bondholders writing off debt related to Dish.
"While we believed a combination of DirecTV and Dish would have benefited all stakeholders, we have terminated the transaction because the proposed exchange terms were necessary to protect DirecTV's balance sheet and our operational flexibility," DirecTV CEO Bill Morrow said in a statement.
The prospect of a DirecTV-Dish combo has long been rumored, and reported talks resurfaced over the years. And the two almost merged more than two decades ago — but the Federal Communications Commission blocked the deal valued at the time at $18.5 billion deal, citing antitrust concerns.
The pay-for-TV market has shifted significantly since. As more and more consumers tune into online streaming platforms, demand for more traditional satellite entertainment continues to shrink.
DirecTV says that it will continue to invest in next-generation streaming platforms and offer new packaging options while integrating content from live TV alongside direct-to-consumer... Read More
