The Baeren (Bears) awards are lined up during the award ceremony for the 2020 Berlinale Film Festival in Berlin, Germany, on Feb. 29, 2020. Organizers say the annual Berlin International Film Festival is being put off this year due to the coronavirus pandemic and split into two parts later in 2021. (AP Photo/Michael Sohn, File)
BERLIN (AP) --
The annual Berlin International Film Festival is being put off this year due to the coronavirus pandemic and split into two parts later in 2021, organizers said Friday.
The "Berlinale" had been scheduled for February in the German capital but cannot go ahead due to the likelihood that coronavirus restrictions on large gatherings will continue, organizers said.
To give the film industry a venue to market their products in the first quarter, however, a virtual Berlinale will be held online in March. Then in June, organizers are scheduling a summer event with numerous film screenings for the public in theaters and the open air.
"The division makes it possible to maintain the two supporting pillars: film market and festival," organizers said.
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
