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DirecTV to acquire Dish Network, Sling TV for $1

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DirecTV to acquire Dish Network, Sling TV for

Satellite TV provider DirecTV has agreed to buy longtime competitor Dish Network, throwing a lifeline to the troubled Colorado-based broadcaster that helped pioneer the industry.

The proposed consolidation, announced early Monday, highlights the challenges facing traditional television. DirecTV agreed to assume Dish’s net debt and pay just $1 for Dish’s satellite TV business and streaming service Sling TV — a startling admission about the fading prospects of the once prominent satellite television provider and its Englewood, Colo.-based parent, EchoStar Communications.

The deal is expected to unfold in two separate transactions. Private equity firm TPG plans to acquire AT&T’s majority stake in DirecTV, giving TPG full ownership of the El Segundo-based company.

Separately, DirecTV agreed to assume $9.9 billion of Dish’s debt at the close of the EchoStar transaction. The proposed takeover, structured as a debt exchange, would allow DirecTV to boost its subscriber count with Dish’s more than 8 million homes. DirecTV currently has about 10 million subscribers for its namesake service and U-Verse.

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“We think this is the right deal for consumers,” DirecTV Chief Executive Bill Morrow said in an interview. “We think [satellite TV] has a greater life and a greater value than most people realize.”

The deal includes arrangements for EchoStar to quickly receive a $2.5-billion loan so it can restructure debt. The cash infusion is designed to help EchoStar and its billionaire chairman Charlie Ergen meet a looming debt payment and continue efforts to build a wireless phone service, branded as Boost Mobile.

Ergen, the 71-year-old maverick who co-launched EchoStar in 1980 when he and his wife sold satellite dishes door to door, would exit the television business. That would mark a significant milestone as Ergen helped Dish leap to life in 1996 — two years after DirecTV launched its nationwide service.

The Dish-DirecTV consolidation is expected to face regulatory scrutiny.

In 2002, the Federal Communications Commission thwarted the companies’ first stab at a union. The FCC ruled a marriage of DirecTV, then owned by Hughes Electronics Corp., and EchoStar’s Dish Network, would choke competition by shrinking the field of satellite TV providers from two companies to just one. At the time, satellite TV was a leading option for residents of rural communities that lacked cable.

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The business has changed dramatically since then. Tech giants Netflix, Amazon Prime Video and Google’s YouTube TV have gobbled up a huge part of the television distribution business, and both Dish and DirecTV have been bleeding customers. The two firms have lost more than 60% of their customer base since 2016.

“There’s more competition than ever. It’s not just cable TV and satellite TV anymore,” Morrow said. “We are the ones in the minority; we’re the ones that are dropping like flies.”

The regulatory review is expected to take about a year, the companies said.

“It’s hard to imagine that regulators would block a deal,” telecommunications industry analyst Craig Moffett wrote in a recent email. “Better to have one than none.”

Ergen’s company has been staggering under a heavy debt load. Negotiations with lenders to restructure its payments broke down this summer, EchoStar said in a recent filing.

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The company faces a $1.98-billion payment in mid-November, which prompted some analysts to predict that a bankruptcy was imminent.

EchoStar had just $521 million available in late June. In the second quarter, the company sustained steep declines in revenue and traditional TV customers. The Sling TV business, however, showed improvement.

EchoStar shares have gained ground in recent weeks amid rumors of a deal with DirecTV. Shares closed Friday at $28.04, up 9%.

“This agreement is in the best interests of EchoStar’s customers, shareholders, bondholders, employees, and partners,” Hamid Akhavan, EchoStar chief executive, said in a statement announcing the deal. “We expect Dish and DirecTV bondholders to benefit from two companies with stronger financial profiles and more sustainable capital structures.”

TPG, which currently owns 30% of DirecTV, will cover the bulk of the $2.5-billion loan to EchoStar. TPG’s Angelo Gordon division will handle the financing.

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AT&T is expected to exit its ownership stake of DirecTV in the second half of next year, bringing to a close its disastrous foray in the entertainment business.

AT&T bought DirecTV in 2015 for about $67 billion, including debt, and then presided over an unraveling of the business.

In 2021, AT&T spun off DirecTV and U-Verse into a stand-alone company, and brought in TPG as managing partner.

The Dallas phone giant separately also sold Warner Bros. Discovery in 2022 for $43 billion — half the amount AT&T paid in 2018 to become a player in Hollywood. The company since has been focused on its wireless business.

The Dish Network and Sling TV businesses are carrying about $11.5 billion in debt.

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“We don’t think the value is there to carry that [much debt],” Morrow said. “There’s virtually no equity in the company.”

While DirecTV agreed to absorb nearly $10 billion of Dish debt, that component is conditional on bondholders accepting less than Dish’s current obligations. The goal, according to Morrow, is to reduce Dish’s debt by $1.6 billion, making it a more manageable load.

The deal is also subject to regulatory approval.

“It’s hard to argue that a merger shouldn’t happen; it clearly should,” Moffett said. “Consolidation during a period of secular decline is always to be expected.”

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Movie Reviews

Movie Review: “Frankie Freako” is an affectionate low-fi throwback to movies like “Ghoulies” – The Independent | News Events Opinion More

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Movie Review: “Frankie Freako” is an affectionate low-fi throwback to movies like “Ghoulies” – The Independent | News Events Opinion More

MOVIE REVIEW: FRANKIE FREAKO

Your enjoyment of the new horror/comedy “Frankie Freako” may be partially dependent on whether or not you have a fondness for 80s cult classics like “Ghoulies.” As it happens, I do. True, for a movie about mischievous little creatures crossing paths with unsuspecting humans, the strange but fittingly low-fi vibe at the heart of “Frankie Freako” is more akin to something like “The Garbage Pail Kids Movie” then “Gremlins” but I certainly don’t say that as a knock. On the contrary, that’s part of this movie’s bizarro charm.

“Frankie Freako” weaves its story around Conor (Conor Sweeney), a clueless workaholic  who sort of lives his mundane life by the book. He has a decent enough job, he has a drop dead gorgeous soulmate (Kristy Wordsworth), and he has everything in the world going for him except for one thing; A clue. To call this clean-cut yuppie oblivious would be quite the understatement. It’s also clear that Conor is having a bit of an existential crisis and ultimately, what he really needs is a little bit of adventure in his life alongside a good swift kick to the ass. Well, he eventually gets both of those things after calling a party hotline that leads him to a demonic little goblin called, you guessed it, Frankie Freako. After conjuring Frankie and bringing he and his trouble-making cohorts into the world of humans, all sorts of hijinks ensue. 

Frankie Freako
Frankie Freako

“Frankie Freako” was written and directed by Steven Kostanski, the wonderfully creative effects man behind “The Void” and “Psycho Goreman.” As was the case with “Psycho Goreman” in particular, there’s a kind of childlike sense of glee that Kostanski brings to this movie. It’s rambunctious, irreverent, weird, and left of center but at the same time, it’s oddly charming. Funny, too. It should also be noted that while “Frankie Freako” doesn’t look to have an official rating yet, it’s clearly more along the PG-13 rated lines of the 80s movies that inspired it.

Kostanski’s old school practical creature work is a lot of fun here and again, from a style standpoint, this movie evokes the spirit of those 80s and 90s Empire productions (think the “Ghoulies” and “Puppet Master” franchises) more than anything else. Kostanksi even goes so far as to name one of his lead characters Mr. Buechler (Adam Brooks), named after the late, great John Carl Buechler, a makeup effects man and creature creator of the 80s who would go on to direct “Troll,” “Ghoulies Go to College,” and the underappreciated “Friday the 13th Part VII: The New Blood” (say what you will about this divisive entry in the over bloated franchise, but it gets bonus points for bringing Kane Hodder into the fold as Jason and for delivering the ultimate “Friday” kill in the form of death-by-sleeping-bag.)

Look, “Frankie Freako” isn’t going to be a movie for the masses but if you like those aforementioned low-fi creature films of the 80s, this one is likely to bring a smile to your face. It certainly did for me. I loved the goofy humor and further still, even though Conor is kind of an insensitive, oblivious, and altogether clueless dumb-dumb for much of this movie’s runtime, I still really liked the guy.

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Also, at the risk of going into spoiler territory, I really loved that Kostanski doesn’t turn Conor’s love interest Kristy (played by a very likable and easy on the eyes Kristy Wordsworth) into a shrill bitch with a hidden agenda. There’s a strange but sweet authenticity to their relationship and I really responded to that. Likewise, the bond that develops between Conor and the hell-raising goblins at the center of this movie is a heartfelt and good-natured one. Call me a freak if you want to but I had a really fun time with this film!

Shout! Studios is set to give “Frankie Freako” a limited theatrical release on October 4th. If you happen to reside in the Southern Utah area, you’ll have an opportunity to see a special screening of this wildly entertaining movie on the evening of Thursday, October 17th during the 2024 HorrorFest International Film Festival. For more details, go to fmasu.com/horrorfest. 

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‘NOTICE TO QUIT’ (2024) – Movie Review – PopHorror

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‘NOTICE TO QUIT’ (2024) – Movie Review – PopHorror

I just watched the new drama, Notice To Quit, the latest release from Whiskey Creek. It starts off as a 10 year old is looking at something for the zoo that someone is defacing. Where does it go from there?

Check out the trailer below, then read on for my thoughts.

Synopsis

Andy Singer, a struggling New York City realtor caught in the cycle of renting rundown apartments, finds his world crashing down around him when his estranged 10-year-old daughter, Anna, shows up unannounced on his doorstep in the middle of his eviction.

Simon Hacker wrote and directed the film. It stars Michael Zegen (The Marvelous Mrs. Maisel), Kasey Bella Suarez (Your Monster), Isabel Arraiza (Outer Range), Michael Angelo Covino (The Climb), Eric Berryman (Atlanta), Victor Verhaeghe (For Life), Nell Verlaque (Big Shot), and Rose Jackson Smith (The Girls on the Bus),

Here’s a look at the poster art!

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My Thoughts

Here are my thoughts about this film. I really liked it. It’s a heartwarming film about a dad and his daughter. The dad in the film at first only thinks about his job until his daughter pays him a visit. When his daughter arrives, through  trial and error, he learns what’s it like to be a parent.

I believe they could have expended on the girl’s story as it mainly focuses on the father and not so much on the people around them.  I think if they expended on that, it would help add a new dimension to the film. Regardless, it definitely tugs at your heart strings.

The sound quality is good and the cast is fantastic. In one scene they have a protest which symbolizes the importance of family, since the father and mother are separated. That struck a chord with me.

Final Thoughts

If you like a heartwarming feelgood story with drama mixed in, you will like this movie. I recommend bringing some tissues. You are going to need them. One minute you are happy the next minute you are sad. You will laugh your pants off during certain parts of this movie and you will not be disappointed.

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Notice To Quit premiered exclusively in theaters Friday September 27th.

 

 

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Marisa Abela, Harry Lawtey break down the 'Industry' finale's big romantic twist

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Marisa Abela, Harry Lawtey break down the 'Industry' finale's big romantic twist

Warning: the following contains major spoilers from the Season 3 finale of “Industry.”

After an interminable game of “Will They/Won’t They?,” “Industry” fans finally got an answer about Yasmin and Robert’s fate on Sunday night.

Bench sex be damned, these two will decidedly not be ending up together.

Yasmin stomped all over Rob’s poor little heart during Sunday’s Season 3 finale, revealing in brutal fashion that mere hours after being intimate with him for the first time, she’d gotten engaged to another man. Perhaps Rob (Harry Lawtey) never really stood a chance against the wealthy Henry (Kit Harington), especially now that Yasmin (Marisa Abela) is broke. Still, after she uttered “I love you” to Rob — the only time in her life she’d ever said the three words — we thought there was a sliver of hope for the HBO series’ resident sweethearts.

Alas, this is “Industry.” Expecting anyone to live according to a moral compass is foolhardy.

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But let’s hear Abela and Lawtey break it all down themselves. Over a video chat from their native United Kingdom last week, the actors weighed in on their characters’ romance, Rob’s sexuality and how the hell this show will work next season if all of the Pierpoint vets are in different cities. (The conversation has been edited and condensed for clarity.)

First of all: Marisa, how could Yasmin do this to Robert?!

Abela: I kind of saw it coming, to be honest. I think that it’s the only decision she could have made in that moment. One choice she’s making is a choice that has a future attached to it — a future that she can understand that has security. And the other is to go back to London with Rob with no job, no finances, no protection against this onslaught of media attention that she’s been having to deal with. I think it’s quite a clear choice, actually, for someone like Yasmin.

Also, if you watch Episode 7, I don’t think they make that much sense together. They’re arguing 90% of the time. I think Yasmin feels like she’s disappointing Robert a lot. She’s not kind enough, gentle enough, patient enough. And I think Robert feels like he’s not impressive enough in what he’s offering her. They’re letting each other down, and that’s not a fun way to feel. Whereas Henry, although he doesn’t necessarily see her how she wants to be seen or cradle her emotionally, he doesn’t expect anything more from her than what she can give him. It’s a sort of business decision at the end of the day. I think that if she’d just come off two days in Wales with Robert that were blissful and beautiful and perfect, she’d have made that decision, but it wasn’t really clicking.

Abela says the couple’s sex is “simple and it’s tender and it’s intimate, you know, compared to pissing on someone in the shower.”

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(Simon Ridgway / HBO)

It was clicking sexually!

Abela: Yes, exactly. They had this great sex. They told each other they loved each other, which I think they do in that moment, at least. But I think for Yasmin it’s just not enough. She has a lot on her plate back in London. She doesn’t have a home, a family. It would be a lot of pressure on Robert to put up with that. Imagine the opposite. They drive away from this big house together, and they go back to Finsbury Park and we watch them, like, make dinner that night or order a delivery that night. What does Yasmin do next? Other than feel like she’s with someone that she loves. I think we’re forgetting that we’re talking about Yasmin here. She’s brutal. Feeling the warm and cozy thing is not at the top of her list.

The sex that Robert and Yasmin have is kind of the most beautiful thing about their relationship. It’s simple and it’s tender and it’s intimate, you know, compared to pissing on someone in the shower.

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Both of your characters are sexually open. Harry, do you think there is a world where Rob is bisexual?

Lawtey: Fundamentally, yes. That’s always been part of the conversation that me and the boys have had since the first season. And there are scenes that never made it to the edit that explored that slightly more.

The show is a coming-of-age story. They’re in these evolving years in their lives and they’re being put into these awkward, intense, claustrophobic situations as part of this big ecosystem, which they’re kind of designed to serve. And yet, at the same time, they’re trying to carve out personality within that. And of course, their sexual lives and identities certainly intersect with all of that. The show has always treated that as character work and development. They all kind of surprise one another, and they’re all open because they live such a radical lifestyle.

Abela: They’re dealing with large sums of money every day, long hours, huge stakes. These things kind of lend themselves to wanting to throw themselves into things with more abandon than a normal person. They’re all becoming more and more desensitized, so they’re more desperate to try something that’s going to stimulate them sexually or emotionally in their relationships. In Season 1, Yasmin was shocking herself with the things that she was asking people to do for her. And now it’s more sort of like, “Am I willing to go there with him? Yeah, maybe. Why not? Let’s see how it goes.”

I think fans shipped Yas and Rob because they always seemed like the two characters who had the softest centers in this harsh environment. But in the finale, Yasmin shows a brutality I didn’t know she had in her.

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Abela: In terms of an audience wanting Yasmin to sit Robert down and tell him that she got engaged? I think she’s scared to do that. I don’t think it comes out of malice. Like, she’s not trying to humiliate him at the table. I think it would be a terrifying conversation for her to have with him, and I don’t think she’s capable of having it.

I definitely think that she’s gotten harder throughout the seasons. I agree that one of the things that brought her and Rob together in the past was that, compared to Harper [played by Myha’la], she had a sort of gooey center. She wasn’t as blindly driven by success. But Yasmin and Harper have become more and more similar as the seasons have gone on because Yasmin’s situation in life has become more desperate. Survival is No. 1 on her list now.

A man takes a woman's hand and kisses it in front of candlelight

Abela, seen here with Kit Harington, says she doesn’t think Yasmin was “capable” of having the “terrifying conversation” where she admitted to Rob she was engaged.

(Simon Ridgway / HBO)

Lawtey: This is also a testament to how little we actually know [about the plot], because there was a certain point in Season 3 where we were taking bets on what we thought might happen for [Robert and Yasmin] at the end of the season. Naturally, I was slightly more hopeful, of course.

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Where we find them in Season 3, there’s enough texture and integrity that they do love each other and see one another authentically for who they are — almost the way they wish to be seen, if they weren’t up against all these different challenges in their little universe. But ultimately, do they pound for pound make one another happy each day? Is that kind of connection sustainable? Maybe not.

Yasmin is in this bind where she’s forced into making a very practical choice that serves her. You can’t judge that, necessarily. And I think it’s fundamentally because Robert knows her, he gets it and accepts it pretty quickly in relation to how devastated he is. The speed with which he gathers himself is unlike Rob, but it’s because he knows that there’s a sliver of a world where this is wonderful and brilliant — but it’s a long shot. If anything, the ending of this season is a springboard for Robert to go and rediscover himself and try to recapture a part of him that has gone missing.

He does already kind of seem over it by the time he says goodbye to her in the driveway.

Lawtey: He knows her and he knows the system now. This season is a final look behind the curtain for Robert, socially and politically and professionally. He is coming to grips, finally, with the structure of how things operate and his place within that structure. Without being too cruel to himself, he’s accepted that ultimately, he’s not made for this world. And Yasmin is. And that’s where they have to part. It was a pipe dream, I think, their relationship. One that he believed in fervently for a minute. That scene that they have together by the lake, that’s kind of like a little window into that. But it’s a bit of a dream. I don’t think it would be like that.

Everyone in the show at Pierpoint has to ask themselves, “Why do I come to work? Why do I show up here? What do I get from this?” And I think almost all of those questions have been answered for Rob, apart from Yasmin. This is the final untethering for him. And so it’s very freeing. “Oh, I can just go and build my own life now, and I can try to be happy again.” He’s spent far too long for the last couple of years being sad.

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A man in a blazer sits on a couch

“This is the final untethering for him,” Lawtey says of his character. “He’s spent far too long for the last couple of years being sad.”

(Nick Strasburg / HBO)

And Yasmin is left behind at this mansion. Is she really cut out to be a housewife in the English countryside?

Abela: I don’t think she’s cut out to sit idly by and be someone’s wife. But I don’t think that Henry’s gonna ask that of her, either. I don’t think that it’s gonna be a conventional marriage [Laughs]. I just get the feeling that neither of them really need that from the other one. I’m sure she’ll be up and down from London.

But I don’t think Yasmin should have ever been an investment banker. This season, so many traumatic events happen to her and I still think that Yasmin looks the most lost when she’s on the desk. I think that she looks far more comfortable on a boat, even after her father has just jumped overboard. She’s really a talented manipulator, and she’ll find a way of using that to her advantage.

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I’m so glad that the show got renewed, especially because the showrunners really wrapped so many storylines up with a bow that I feared Season 3 would be the end of “Industry.” Did you ever worry about that?

Lawtey: With Mickey [Down] and Konrad [Kay, the showrunners], they always have this really exciting notion of just burning their best ideas and challenging themselves to come up with something interesting and dynamic and brave. They’ll always run it and see if they can write themselves out of that corner. So I never really second guess the direction they’re going in, because they always have something up their sleeves. They don’t save anything for final episodes or whatever. As we’ve seen from a few points of the season, no one’s ever really dead, either. They make the most of every inch of the characters in this show.

Abela: It does feel like an end of a chapter for all of them. But, you know, I kind of felt the same at the end of Season 2 with Harper leaving the bank. Season 1 was all about Harper’s relationship to Pierpoint. If they were going to keep going with “Industry,” it didn’t feel that tethered to Pierpoint anymore. These characters were sort of bursting out of that establishment.

Can you imagine an “Industry” where Yas is in England, Rob is in San Francisco, Harper is in New York, etc.?

Abela: I guess they’re probably not all in the same workplace. I don’t know where they’ll be.

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Lawtey: Their lives are rapidly becoming broader, as is the general scope and scale of the show. I think it’s fair to say that in this season, the boys started taking much bigger swings in the tone and style and the landscape of the show, and I think that really suits the characters and their development. Those channels to one another are still going to be there, but they’re being stretched and pushed into different shapes. Which is exciting for us, to keep on having to rethink and recontextualize the way in which these people relate to one another.

A man holding a baseball bat walks by desks covered in plastic

The cast went to watch Ken Leung film the final scene of Episode 3 where he took a baseball bat to the Pierpoint offices.

(Simon Ridgway / HBO)

Was there any sadness in saying goodbye to the Pierpoint set?

Abela: You do get a little bit sentimental about this fake building that you sort of grew up. If we were sad about saying goodbye to it, it was more about saying goodbye to the season and what the end of a Season 3 meant. The show means a lot to us, and we as people, I think, mean a lot to each other. And so we all went down and watched the final scene with Ken [Leung, who plays Eric] swinging that bat around. It just kind of felt like a moment. We all kind of grew up in that mini trailer park.

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Lawtey: It was like a really special thing to go and see Ken and send off that space for us. It does feel like a home, in a way, creatively. In the picture of our careers as actors, that represents HQ. The building where the trading floor was, they never took it down even in the long gaps between seasons. So, yeah, it was a strange thing to walk away from. When I think of that room, I think of the ensemble of the show. It’s been a collective and a community of people that has kind of revolved, but there’s been a nucleus that has stayed the same. And the home for those people is that space. We just had a lot of laughs there and some brilliant times. I was chatting to Ken the other day, and he said this season signifies the closing of a circle. And now you’ve just got to open a new circle, I think.

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