A movie poster for "Patton," a film which earned an Oscar for art director Gil Parrondo. He also won an Academy Award for "Nicholas and Alexander."
MADRID (AP) --
Spanish art director Gil Parrondo, who won Oscars for "Patton" and "Nicholas and Alexandra," has died. He was 95.
Spain's Film Academy announced Parrondo's death late Saturday. It did not disclose the cause of his death.
Parrondo won Oscars for art direction for "Patton" in 1970 and "Nicholas and Alexandra" in 1974. He was nominated for another Oscar for "Travels with My Aunt" in 1972, and worked on scores of other films, including "Doctor Zhivago."
He also won four "Goya" awards, given each year by Spain's Film Academy.
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
