In this Wednesday, July 12, 2017 file photo, Carlo Chatrian, artistic director of the Locarno Film Festival, speaks during a press conference, at the Bellevue Palace in Bern, Switzerland. Chatrian and German movie industry official Mariette Rissenbeek have been tapped to take charge of the Berlin International Film Festival starting in 2020. (Thomas Delley/Keystone via AP, file)
BERLIN (AP) --
Carlo Chatrian, the director of the Locarno film festival, and German movie industry official Mariette Rissenbeek have been tapped to take charge of the Berlin International Film Festival starting in 2020.
A committee led by Germany's culture minister, Monika Gruetters, on Friday designated Chatrian as the festival's future artistic director and Rissenbeek as its managing director.
Dieter Kosslick, who has been in charge since 2001, will preside over his last edition of the "Berlinale" next year. The annual event is one of Europe's main film festivals, along with Cannes and Venice.
The Italian-born Chatrian has led Switzerland's Locarno festival since 2013. Rissenbeek is currently the managing director of German Films, an advisory center for marketing German-made movies internationally.
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
