A scooter drives by the Palais des Festivals at the 71st international film festival, Cannes, southern France, on May 7, 2018. The Cannes Film Festival, canceled altogether last year by the pandemic, is postponing this year’s edition from May to July in hopes of having an in-person festival. Cannes organizers announced Wednesday that this year’s Cannes will now take place July 6-17, about two months after its typical period. (Photo by Arthur Mola/Invision/AP, File)
By Jake Coyle, Film Writer
NEW YORK (AP) --
The Cannes Film Festival, canceled altogether last year by the pandemic, is postponing this year's edition from May to July in hopes of having an in-person festival.
Cannes organizers announced Wednesday that this year's festival will now take place July 6-17, about two months after its typical period. The French Riviera festival, which had run for nearly 75 years with few interruptions, is currently hoping the coronavirus recedes enough by summertime.
Cannes last year first looked at a postponement its 73rd festival to June or July before ultimately canceling altogether. The festival still went ahead with a selection announcement to celebrate the films it had planned to include in its prestigious lineup.
This year, organizers are intent on having a festival, one way or another. No details were announced Wednesday on what shape a 2021 edition might take.
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
