DirecTV and Dish have agreed to merge. The combination will create the biggest traditional pay-TV service at a time when streaming dominates.

DirecTV is buying Dish and Sling as the company, a deal it has sought to complete for years as seeks to better compete against streaming services that have become dominant.

DirecTV is buying Dish and Sling for $1 and the assumption of nearly $10 billion in debt, marking one of the biggest pay-TV mergers ever.

Satellite TV giant DirecTV and Charlie Ergen’s EchoStar said Monday that they have entered a definitive agreement under which DirecTV will acquire EchoStar’s video distribution business Dish DBS, including Dish TV and Sling TV,

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

Private-equity firm TPG agreed to buy AT&T’s remaining stake in DirecTV and merge the satellite company with rival Dish in a one-two punch designed to keep the pay-TV provider competitive in the streaming era.

The deal, announced on Monday, will see DirecTV take over Dish and Sling from current owner EchoStar. The move, which has been in the works for years, aims to address the growing challenge posed by streaming services like Netflix and Hulu,