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    Almodovar to receive Venice Film Festival career achievement honor

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    In this Sunday, July 23, 2017 file photo, Spanish filmmaker Pedro Almodovar poses for photographers after winning the best director award during the Platino Awards ceremony in Madrid. (AP Photo/Francisco Seco, file)
    ROME (AP) --

    The Spanish Oscar-winning writer and director Pedro Almodóvar will be awarded the Golden Lion for Lifetime Achievement by the Venice Film Festival.

    The decision from the board of the Biennale di Venezia, follows a proposal by the festival's director, Alberto Barbera.

    Almodovar, whose film credits include 1999's All About My Mother and 2002's Talk to Her , said Friday he has good memories of Venice, where he made his international debut in 1983: "This Lion is going to become my pet, along with the two cats I live with."

    Barbera praised Almodóvar as "the greatest and most influential Spanish director since Buñuel" and "a filmmaker who has offered us the most multifaceted, controversial, and provocative portraits of post-Franco Spain."

    The 76th Venice Film Festival runs Aug. 28 to Sept. 7.

    Tags:Pedro AlmodovarVenice Film Festival



    DirecTV calls off acquisition of rival Dish, possibly ending a yearslong pursuit

    Friday, November 22, 2024
    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

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