DirecTV said on Monday that it had agreed to acquire Dish Network in a deal that would create one of the largest pay-TV providers in the US.

DirecTV and Dish TV agreed to merge in a historic deal announced on Monday. The merger still needs to be approved by regulators, but if it is it would bring together two of the biggest satellite TV providers in the business with a total of 20 million subscribers in the U.

Comcast, Verizon, and AT&T’s acquisitions were an attempt to take over the media landscape built on their networks, with varying degrees of success, delivering brands like Oath, WarnerMedia, and Peacock as well as the entirely forgettable Go90.

DirecTV is acquiring DISH through a $9.75 billion debt exchange transaction. This deal, pending approval, would create a monopoly in the satellite television industry. Ironically, it would also contribute to the FCC's 5G buildout goals by rescuing EchoStar, the current owner of DISH, from bankruptcy.

DirecTV announced a deal to acquire EchoStar's Dish and Sling TV for $1 plus assumption of nearly $10 billion in debt.

The deal, which is subject to regulatory approval, would create one of the largest pay-TV distributors in the U.S. The companies were blocked in an attempt to merge in 2002.