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.

Dish Network Corp. creditors have rejected the US satellite-television provider’s bond-exchange offer on the eve of a deadline for a debt deal that is key to the company’s proposed acquisition by rival DirecTV.

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,