In this Feb. 6, 2013, file photo, Kevin Tsujihara, poses for photos in a screening room at the Warner Bros. Studios in Burbank, Calif. (AP Photo/Jae C. Hong, File)
LOS ANGELES (AP) --
Warner Bros. chairman and CEO Kevin Tsujihara is apologizing to his staff amid a WarnerMedia investigation into sexual misconduct reports prompted by an article in The Hollywood Reporter earlier this week.
Tsujihara is under scrutiny for claims that he promised acting roles and auditions to an actress whom he was having a sexual relationship with.
In the memo obtained by The Associated Press Friday, Tsujihara says he regrets making mistakes in his personal life that have caused pain and embarrassment to people he loves and the company.
He says he intends to cooperate with the investigation and the third-party law firm enlisted to review the claims.
The actress involved has said in a statement that there was no impropriety and she has no claims against him.
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
