DirecTV’s purchase of EchoStar’s subscription television business could collapse unless bondholders agree to accept a discount within the next week. But even if they don’t, EchoStar reassured investors it has raised enough capital to meet upcoming debt payments, allowing it to avoid a bankruptcy filing.

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.

Satellite TV provider DirecTV is walking away from its planned acquisition of EchoStar's video distribution service, Dish DBS, after Dish bondholders rejected a debt exchange.

The two satellite companies would form the largest pay-TV company in the United States if they merged, but DIRECTV is losing patience. Time appears to be running out for a combination of DISH and DIRECTV.