(Reuters) - Satellite TV provider DirecTV said on Tuesday it will abandon its planned acquisition of EchoStar's satellite television business that includes Dish TV by Nov. 22 if bondholders don't agree to a debt exchange. A group of Dish bondholders on ...

DirecTV’s purchase of EchoStar’s subscription television business could collapse unless bondholders agree to accept a discount within the next week. But even if they don’t, EchoStar reassured investors it has raised enough capital to meet upcoming debt payments, allowing it to avoid a bankruptcy filing.

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.

EchoStar stock plunged 13% Tuesday on the news that bondholders of subsidiary Dish Network rejected a proposed debt deal seen as key to sealing a merger with satellite rival DirecTV. Shares fell to $22.

DirecTV’s proposed acquisition of Dish assets is most likely dead after a group of bondholders rejected a revised offer.

The deal between the rival satellite TV giants for $1 and $9.75 billion in debt is contingent upon Dish's bondholders agreeing to a debt exchange

DirecTV says it will walk away from its merger agreement with Dish Network on November 22 if the company remains unable to reach a specific agreement with some of its creditors. This article, DirecTV says meger agreement with Dish Network could fall apart,