In this Aug. 10, 2015, file photo, Stephen Colbert participates in "The Late Show with Stephen Colbert" segment of the CBS Summer TCA Tour in Beverly Hills, Calif. (Photo by Richard Shotwell/Invision/AP, File)
NEW YORK (AP) --
The four largest broadcast networks will simultaneously air a fundraising special for education next month featuring Stephen Colbert, Scarlett Johansson and other celebrity entertainers.
The Entertainment Industry Foundation said Tuesday that ABC, CBS, Fox and NBC will air the one-hour telecast at 8 p.m. EDT/PDT on Sept. 11. Kristen Bell, Matthew McConaughey, Ryan Seacrest, Jessica Williams, Jeremy Renner and Gwyneth Paltrow will also participate in the show, which will have sketches and musical performances.
It's the same organization that ran "Stand Up to Cancer" benefits that were also aired by all four networks.
The foundation's Think It Up initiative is hoping the benefit helps build excitement for learning in classrooms around the country. The broadcast will showcase stories of students and teachers.
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
