Pippo Zeffirelli, center, son of director Franco Zeffirelli, poses with Russian entrepreneur Mikhail Kusnirovich, and American investor Govind Friedland during the presentation of the Franco Zeffirelli International Centre for the Performing Arts at the Foreign Press Club in Rome, Thursday, July 6, 2017. (AP Photo/Domenico Stinellis)
MILAN (AP) --
Director Franco Zeffirelli's art works and personal library have been moved from his Roman villa to his native Florence to fill a museum honoring his life's work.
The museum and performing arts center will display around 500 sketches of production sets that Zeffirelli made during his vast career, make available his 10,000-volume library and incorporate artistic activities.
His son, Pippo Zeffirelli, said at a presentation Thursday in Rome "the project was born from the maestro's desire to leave all his artistic treasures" intact and accessible. Zeffirelli was expected to attend, but his son said he was feeling unwell because of a heat wave.
The film, TV and opera director, who is 94, also will be honored at La Scala with a revival of his 1963 production of "Aida."
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
