In this July 27, 2010 photo, Aretha Franklin performs at The Mann Center for the Performing Arts in Philadelphia. (AP Photo/Matt Rourke, File)
By Corey Williams
DETROIT (AP) --
An attorney says the late Queen of Soul's estate has paid at least $3 million in back taxes to the IRS since Aretha Franklin's death last August in Detroit.
David Bennett, who represents Franklin's estate, told The Associated Press on Thursday that the estate is being audited by the IRS, which he says filed a claim this month in a county probate court north of Detroit.
TMZ reported earlier Thursday that legal documents it obtained showed the IRS claimed Franklin owes more than $6.3 million in back taxes from 2012 to 2018 and $1.5 million in penalties.
Bennett says all of Franklin's returns have been filed. He adds that the IRS is questioning the filed returns and that Franklin's estate is disputing what the IRS claims "was income."
Franklin died of pancreatic cancer in August. She was 76.
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
