In this Feb. 26, 2016 file photo, U.S actor Michael Douglas arrives at the 41st French Cesar Awards Ceremony, in Paris. (AP Photo/Thibault Camus, File)
ROCHESTER, NY (AP) --
Academy Award winner Michael Douglas is donating his personal collection of more than three dozen film prints to Rochester's George Eastman Museum.
Officials at the photography museum located on the estate of Kodak's founder say Thursday that the Douglas collection of 35 mm and 16 mm prints, 37 in all, includes more than 30 that he starred in or produced.
Museum Director Bruce Barnes says Douglas was inspired to make the donation after visiting Rochester last May to receive the George Eastman Award for his contributions to the film industry.
Douglas won an Oscar for best picture for producing 1975's "One Flew Over the Cuckoo's Nest" and an Academy Award for best actor 1987's "Wall Street." Those two films are among the donated prints. Others include "The China Syndrome," ''Romancing the Stone" and "Traffic."
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
