The proposed deal, initially announced in September, was seen as a strategic consolidation in a shrinking pay-TV market.

DirecTV added that the termination of its Dish acquisition doesn't impact AT&T's sale of its remaining stake in DirecTV to private equity company TPG for $7.6 billion. That particular deal will see TPG acquire AT&T's 70 percent stake in DirecTV. DirecTV expects the deal to close in the second half of 2025.

After months of negotiations, DIRECTV announced that it has terminated its deal to acquire DISH DBS, the parent company of DISH, and its streaming service, Sling TV, in a multi-billion dollar debt-saving deal.