This May 6, 2018 file photo shows Ted Sarandos at the 2018 Netflix FYSee Kick-Off Event in Los Angeles. (Photo by Richard Shotwell/Invision/AP, File)
NEW YORK (AP) --
New York City's last surviving single-screen movie house will remain open, thanks to Netflix.
The streaming platform on Monday announced a lease agreement to keep the Paris Theatre open for special events, screenings and theatrical releases.
Netflix's Chief Content Officer Ted Sarandos says in a statement that the company is "incredibly proud to preserve this historic New York institution so it can continue to be a cinematic home for film lovers."
The theater located near Central Park shuttered its doors in August and was reopened in October after Netflix announced it will screen Noah Baumbach's new movie, Marriage Story, for a limited time.
The 581-seat venue opened in September 1948 and originally specialized in showing French films.
It is known as one of the oldest art-house theaters in the country.
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
