DirecTV said it will abandon a plan to buy its satellite television rival after some bondholders refused to accept a steep discount on Dish parent EchoStar’s debt.

TV giant's bondholders don't agree to a debt exchange. "A successful exchange was a condition for acquiring the Dish video business," a DirecTV spokesperson told TheWrap. "Given the outcome of the EchoStar exchange,

DirecTV intends to terminate its planned acquisition of Dish Network Corp. in 10 days if bondholders don’t agree to a debt exchange.Most Read from BloombergUnder Trump, Prepare for New US Transportation PrioritiesThe Leaf Blowers Will Not Go QuietlyNo Water by Year-End for This Zimbabwean City of 700,