In this Oct. 25, 2007 file photo, film director Hector Babenco poses at the presentation of his movie, 'El Pasado' (The Past) at the Rome Film Festival. (AP Photo/Sandro Pace, File)
SAO PAULO (AP) --
The Argentine-born Brazilian director nominated for an Oscar for his 1985 film "Kiss of the Spider Woman" has died. Hector Babenco was 70.
Denise Winther of Babenco's HB Films says the director died Wednesday night of a heart attack at Sao Paulo's Sirio-Libanes Hospital.
"Kiss of the Spider Woman" also was nominated for best picture and William Hurt won the Best Actor Oscar
Babenco also directed "Ironweed" with Jack Nicholson and Meryl Streep, who were nominated for best actor and actress Oscars.
His last film was "My Hindu Friend" starring Willem Dafoe. It tells the story of a film director close to death.
Babenco is survived by his wife Barbara and daughter Janka.
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
