DirecTV agrees to buy Dish Network -- for $1

(Photo credit: Wheeler Cowperthwaite/The Providence Journal / USA TODAY NETWORK)
DirecTV is purchasing Dish Network, merging the longtime rival services amid the waning demand for satellite television.

The deal, which DirecTV announced on Monday, is expected to merge the services near the end of 2025, Reuters reported. It will become official only if Dish bondholders comply with a net debt of no more than $1.55 billion.