Neri dos Santos Silva, center, watches an encroaching fire threat after digging trenches to keep the flames from spreading to the farm he works on, in the Nova Santa Helena municipality, in the state of Mato Grosso, Brazil, Friday, Aug. 23, 2019. Under increasing international pressure to contain fires sweeping parts of the Amazon, Brazilian President Jair Bolsonaro on Friday authorized use of the military to battle the massive blazes. (AP Photo/Leo Correa)
NEW YORK (AP) --
A new environmental foundation backed by Leonardo DiCaprio is pledging $5 million in aid to the Amazon, which has been swept by wildfires .
Earth Alliance was created last month by DiCaprio and philanthropists Laurene Powell Jobs and Brian Sheth. On Sunday, it launched the Amazon Forest Fund in an announcement on their website. The alliance is also seeking donations to help repair the Brazilian rainforest, called the "lungs of the planet."
Brazilian federal experts reported a record number of wildfires across the country this year, up 84% over the same period in 2018.
The funds will be distributed to five local groups working to combat the problem: Instituto Associacao Floresta Protegida, Coordination of the Indigenous Organizations of the Brazilian Amazon, Instituto Kabu, Instituto Raoni, and Instituto Socioambiental.
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
