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.

TV giant's bondholders don't agree to a debt exchange. "A successful exchange was a condition for acquiring the Dish video business," a DirecTV spokesperson told TheWrap. "Given the outcome of the EchoStar exchange,

Related: What DirecTV, Dish Network merger means for current customers In other news, time is running out for the 8 million people who still use DISH TV and Sling TV as their video services. A deal that would have sold both units owned by EchoStar to satellite TV provider DirecTV could be ditched.