This Feb. 22, 1982 file photo shows actor and movie director Orson Welles during a press conference in Paris. (AP Photo/Jacques Langevin, File)
NEW YORK (AP) --
Orson Welles's last film may finally be nearing release after decades as one of cinema's most storied unfinished creations.
The New York Times reported Wednesday that a Los Angeles-based production company, Royal Road Entertainment, has agreed to buy the rights to Welles' largely unseen "The Other Side of the Wind." Producers are planning to unveil the film in time for the centennial anniversary of Welles' birth on May 6.
The semi-autobiographical film is about a movie director, played by John Huston, feuding with Hollywood over an ambitious film. Welles shot the movie in 1971 and spent the rest of his life editing it, before dying in 1985.
Director Peter Bogdanovich, who appears in the film, will help edit the footage, which includes a roughly 45-minute edited print.
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
