In this April 2013 file photo, an Apple logo is on display at a Shanghai store (AP file photo).
LONDON (AP) --
Apple innovator Jonathan Ive says he's been promoted to the company's chief design officer, making him one of the most powerful people in the world's most valuable company.
Ive, who as a lead designer with the company helped conceive the iconic Apple looks of products like the iPod, iPad and Apple Watch, confirmed the promotion in an interview published Tuesday in the Daily Telegraph.
The role is a newly created position within Apple and will establish Ive's leadership.
Two others were also promoted: Richard Howard will become head of industrial design and Alan Dye will be the head of user interface. Ive will oversee both departments.
The designer from northeast London has led Apple's design team since the mid-1990s and was considered a confidante of the late Steve Jobs.
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
