Entertainment
DirecTV to acquire Dish Network, Sling TV for $1
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.
“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.
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.
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.
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.
“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.”
Movie Reviews
Movie review: ‘Gail Daughtry and the Celebrity Sex Pass’ not quite ‘Wet Hot’ fun
Comedy is a matter of taste and preference — it’s a deeply personal thing. Which makes it hard for a critic to give a blanket assessment of a specific kind of comedy, especially if it didn’t work for them, but clearly worked for others (the laughter or lack thereof is the indication). “It’s not funny,” the critic says, “well I had fun,” someone else can reply, and then we’re at an impasse.
Which is the dilemma one finds oneself in with “Gail Daughtry and the Celebrity Sex Pass,” a very strange and shaggy Hollywood satire of sorts from David Wain and The State crew, still riding the goodwill of “Wet Hot American Summer” after all these years. If only this were as funny.
“Gail Daughtry” lives in the same world as that iconic summer camp spoof, as well as Wain’s 2014 rom-com parody, “They Came Together,” in that he’s playing with genre convention and expectation, taking well-known norms to the goofiest extremes. But those films hewed more closely to their respective genres, while “Gail Daughtry” is totally scattered, combining crime and spy movie tropes with a fish-out-of-water comedy and a Hollywood send-up. It has far too many ideas for its own good, and yet no ideas that are good enough to sustain this bizarre curio of a comedy.
What’s ironic is that one of the problems driving this wacky plot forward is the characters have to come up with a movie idea to pitch to star Jon Hamm (playing himself of course), leading them to do some pretty inane and shockingly violent things. It’s almost as if Wain and co-writer and co-star Ken Marino had no idea for a movie, then baked their search for an idea into their script, and then turned it into a madcap adventure about a woman on a quest to have sex with Jon Hamm. What an ouroboros!
OK, about the sex quest. Gail Daughtry (Zoey Deutch) is a chipper hairdresser from Kansas born without the part of the brain that recognizes sarcasm or irony. She’s a cheerful, Pollyanna-ish naïf whose literal-mindedness is almost as extreme as Amelia Bedelia. Her childhood sweetheart and fiancé Tom (Michael Cassidy) is the same. She tells him about the concept of the “celebrity sex pass” as a joke, and he promptly boinks Jennifer Aniston at local book reading.
(Nitpicky aside: why didn’t they use the common nomenclature “hall pass”? Is it copyrighted? “Celebrity sex pass” is clunky and sounds like an off-brand version of the well-known slang.)
That infidelity crisis is how Gail ends up in Los Angeles determined to bang Hamm, collecting a motley crew of similarly clueless helpers along the way. There’s her best friend Otto (Miles Guttierez-Riley), her salon bestie; Caleb (Ben Wang), an overly ambitious intern at Creative Artists Agency; Vince (Marino), a screenwriter turned paparazzo with a heart of gold; and John Slattery, as John Slattery, down on his luck. An accidental briefcase swap has a pair of thugs on their tail, in a forgettable and underdeveloped B-plot.
With a parade of celebrity cameos and collaborators in bit parts, “Gail Daughtry” at times feels like an excuse for Wain and co. to make something at home with all of their friends. Fair enough, it’s great to see all these people employed, but what about what we’re watching? Behold, the Los Angeles of the middle-aged working comedian: the CAA lobby, the Chateau Marmont, Griffith Park, etc. And the plot is as half-baked as the pitch they present to Hamm.
What’s actually interesting about this comedy is the distinct streak of despair and even resentment that reveals itself at the climax, a feeling of helplessness and uselessness. Everyone’s been striving to make it in this crazy town: the intern, the actor, the paparazzo. But not even Jon Hamm can help them get a movie made; even he feels inherently powerless. There’s an unexplored anxiety vibrating there that feels the most thematically fruitful, about what it means, some 25 years after bursting onto the scene with a generation-defining comedy, about maintaining the work, the drive, a sense of purpose, after years of strikes, and in the face of a constricting industry. Do they still have it? Is the dream still alive?
Maybe that’s why Wain and Marino need to invent a dreamer stand-in with Gail, a guileless eternal optimist who knows nothing of the craven Los Angeles and accepts everything at face value (though she is filled with a scary bit of rage too). She might behave like she has a head injury, but she’s going to achieve her goal, dammit. “Gail Daughtry and the Celebrity Sex Pass” might not be as funny as “Wet Hot American Summer” (for this critic), but reframed, it serves as a fascinating status update on life in La La Land for this troupe.
‘Gail Daughtry and the Celebrity Sex Pass’
2 stars (out of 4)
MPA rating: R (for sexual content, violence/bloody images and language)
Running time: 1:33
How to watch: In theaters July 10
Entertainment
Emily Ratajkowski’s viral essay on sex life as a single mom scores her a seven-figure book deal
Emily Ratajkowski’s viral essay detailing her sex life as a single mom just landed her a seven-figure book deal.
According to Page Six, the model’s essay in the Cut had publishers champing at the bit in a 12-way bidding war that culminated in the hefty pay day. Editor Helen Rouner at Penguin Press — who also edited Lauren Christensen’s memoir “Firstborn” and Michael W. Clune’s novel “Pan” — reportedly landed the deal.
Penguin Press did not immediately respond to The Times’ request for comment Friday.
Publishers Marketplace announced the forthcoming memoir, describing it as “an examination of modern female identity through the story of the author’s own efforts as a newly single mother in New York City to discover what really constitutes a good life for a woman.”
The essay, which dropped a month ago and quickly broke the internet, drops the veil on EmRata’s sexual adventures (or maybe misadventures) since she and her former husband, Sebastian Bear-McClard, split in 2022.
“It was a violent transition into a new reality of screaming baby on my aching tit and ring on my swollen finger,” Ratajkowski writes of new motherhood. “And then, in a time period that felt both instant and excruciatingly slow, my marriage collapsed. Six months after my son was born, my husband and I stopped having sex. Less than a year later, we separated.”
In the missive, the model interrogates her sexuality — is she a Madonna or a whore? — while untangling bigger questions around gender, power and self-actualization. If Carrie Bradshaw wrote about “Sex and the City,” then Ratajkowski is writing about sex, the city and single motherhood. And naturally, her fleeting paramours have vague monikers: “Vegan Graffiti Artist,” “Spanish Gen-Zer” and “Son of a Billionaire.”
“And then there was the Elder Millennial: obsessed with dental hygiene, psychedelics, and dirty talk,” she writes. “He had approached the subject coyly at first, like it was something he was kind of embarrassed about — the way a kid will test you to see if you’ll talk to them about their dorky obsession of the moment. Do you like Godzilla? What about Star Wars?”
Would-be sleuths with Ratajkowski’s essay and a gossip rag handy will have their work cut out for them.
This will be Ratajkowski’s second book. The first, “My Body,” dropped in 2021 and was a bestselling collection of essays exploring gender, power dynamics, sexuality and the commodification of female beauty in the modeling and entertainment industries.
Ratajkowski’s foray into the spotlight came more than a decade ago when Robin Thicke’s controversial “Blurred Lines” music video made the model an overnight star. She was cast in David Fincher’s adaptation of “Gone Girl,” which hit theaters the following year, and catapulted to top fashion runways — Marc Jacobs, Versace, Victoria’s Secret and Dolce & Gabbana, to name a few. She she’s been romantically linked to Harry Styles, Eric Andre, Shaboozey, Brad Pitt and Pete Davidson, among others.
In 2023, she moonlighted as the host of the “High Low With EmRata” podcast, where she interviewed sex workers, investigated ethical nonmonogamy and pondered the etymology of the word “toxic.” The same year, she told The Times that she was coming into herself post-divorce, “Being able to assert what I want — that feels like it just started: My life as a creator and not as a muse.”
Movie Reviews
‘Gail Daughtry and the Celebrity Sex Pass’ Review: We’re Off to Hump the Wizard
Wainheads will be delighted to see his alums in cameos: Kerri Kenney-Silver, Michael Ian Black, Thomas Lennon, and supporting roles for Zickel and Truglio. A large portion of the cast are his homies. But with Deutch, Gutierrez-Riley, Wang, Slattery, Impacciatore, and yes, Hamm, it’s as if they’re being inducted into a new mad family. Wain and Marino are basically catching Pokémon and hoping they can hold onto the roster (by that logic, yes, Paul Rudd is a legendary Pokémon). The film is anchored by Zoey — everything everywhere all this summer with Voicemails From Isabelle to Minions & Monsters — Deutch in the Dorothy Gale role, exuding a high level of perkiness consistent with the character’s can-do, wide-eyed, midwestern charm and heart.
A major standout, Ben Wang finally gets to show off his comedic abilities, portraying a self-assured, quick-witted agent who makes me laugh every time he reveals his sheltered upbringing in snappy whines at every inconvenience. Sabrina Impacciatore, who has proven to be a comedic juggernaut in The Paper, is having so much fun hamming it up as the mob boss-esque wicked witch counterpart, torturing her henchmen and deliciously chewing up the scenery whenever onscreen. I don’t think they use her to the height of her comedic prowess, but she’s a delight nonetheless. John Slattery is the film’s comedic MVP. The way the writers use his over-the-top character for comedy is downright hilarious every time. They use him as either a punchline or a force of nature, and he’s great. This movie is like Mad Men propaganda, and by God, it works. As someone who’s never seen it, Gail allowed me a better appreciation for Slattery and Hamm.
Man, we don’t deserve Jon Hamm. This is the second time I’ve seen him play a silly, fictionalized version of himself this year (the other being the SXSW crowd-pleasing rom-com Wishful Thinking, which Gail distributor Sony Pictures Classics acquired), and he also voice-acted in his comedic Mayor Jerry role in Hoppers. Maybe working with Wain in 2007’s The Ten was the canon event, but I consider his weird little sex scene with Kristen Wiig in Bridesmaids his awakening. Since then, I’ve only seen him as unserious, and it’s delightful. Oz-like in appearance, he’s funny and befitting the film’s overall light, joyful nature.
LAST STATEMENT
Ultimately, Gail Daughtry and the Celebrity Sex Pass is a campy, delightful romp that succeeds as both a distinctive Hollywood‑centric riff and a Wizard of Oz reimagining, retaining a loving, twisted, demented charm. It’s a weird description, but it’s so high‑spirited and light‑hearted despite being strangely ultraviolent. It might as well be a live‑action episode of Smiling Friends (RIP), yet it’s everything the theatrical market needs today. Ten years ago, this would’ve been a studio production rather than an indie Sundance acquisition, but thank God it exists for the big screen. More absurdist Gail Daughtrys for cinemas (not streaming), please, because this is the most fun to be had in a theater all summer, if not the year thus far.
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