Cinematographer Fred Koenekamp, who won an Oscar for the 1974 disaster epic "The Towering Inferno," has died. He was 94.
A representative for the American Society of Cinematographers said Friday that Koenekamp died on May 31.
With over 90 credits to his name, Koenekamp often collaborated with director Franklin J. Schaffner. He earned Oscar-nominations for Schaffner's "Patton" and "Islands in the Stream" and was given the ASC Lifetime Achievement Award in 2005.
Koenekamp was born in Los Angeles to an Oscar-nominated cinematographer father. He was a camera operator on "Gunsmoke" before snagging his first cinematography credit on "The Man From U.N.C.L.E." for which he earned two Emmy nominations.
Other notable credits include "Papillon," ''The Amityville Horror," ''Beyond the Valley of the Dolls" and "Fun With Dick and Jane."
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
