In this May 16, 2016 file photo, Adam Sandler, a cast member in "The Do-Over," poses at the premiere of the film in Los Angeles. (Photo by Chris Pizzello/Invision/AP, File)
NEW YORK (AP) --
Netflix is doubling down on Adam Sandler. The streaming giant has extended its deal with the comedian for four more feature films.
As part of a previous four-movie deal, Sandler has already produced and starred in two films for Netflix. While neither "Ridiculous 6" nor "The Do-Over" received anything close to good reviews, Netflix said Friday they are the biggest film releases for the service. Sandler's next Netflix film, "Sandy Wexler," debuts April 14.
Netflix Chief Content Officer Ted Sarandos said Sandler's films have proven "extremely successful" with Netflix subscribers.
To date, the majority of Netflix original films have been smaller dramas or documentaries. But some of its most ambitious and priciest acquisitions are due out this year, including "War Machine" with Brad Pitt and "Bright" with Will Smith.
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
