The companies say the deal will improve the viability of satellite services in an industry now dominated by streaming providers.

DirecTV and Dish Network, longtime satellite TV adversaries, are set to merge. DirecTV announced a deal with Dish parent company EchoStar to acquire Dish in a deal valued at nearly $10 billion. Under the terms of the purchase agreement,

The merger of EchoStar's video businesses and DirecTV will also coincide with TPG agreeing to buy out the 70 percent of DirecTV that it does not own from AT&T.