In this May 16, 2012, file photo, the Facebook logo is displayed on an iPad in Philadelphia. (AP Photo/Matt Rourke, File)
LONDON (AP) --
Facebook CEO Mark Zuckerberg will meet with leaders of the European parliament in a closed-door meeting next Tuesday about the data protection scandal that has engulfed his company.
Even though his visit had been announced, it was left unclear exactly when Zuckerberg would visit the European Union legislature.
The EU and British parliaments have been calling for Zuckerberg to appear before them for weeks ever since it emerged that a company, political consultants Cambridge Analytica, had been allowed to misuse the data of millions of Facebook users.
The EU meeting however is set to be private with the leaders of the political groups and a justice and civil rights expert. Many in the European Parliament had been calling for a public hearing.
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
